WDCWDC is good chance to enter in this prices it s finished from accumulation it will be exploded enter 66$
long term traders have new peak above 100$
short term traders have resistant 80$
stop loss 53$
0QZF trade ideas
WDC, 2024-07-01, ShortContext:
Weekly - Support zone @ 16.06/80.12
Daily - Trend line (Compression) break; Retracement back to "Last Red" (on Choch)
1h - Choch (one bar); "First Red" as entry/stop range
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Main Target - Weekly Support @ 65.92
Breakeven stop @ 73.48
2/3s out @ 72.49 (Fin ext. 0.618)
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Expected RR (at full) 7.3
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Notes:
Reduced position size on short sales.
Western Digital Has Been Trending HigherWestern Digital has pushed steadily higher since late 2023, and now some traders may expect the uptrend to continue.
The first pattern on today’s chart is the zone around $66. WDC peaked there on March 6 and 21. It then rallied above the price and came back to hold it on April 19 and 25. Has old resistance become new support?
Second, the data-storage company got stuck below roughly $71 in the second half of April. It’s had some intraday probes above that price but has struggled to hold. Traders may look for a close above that resistance to confirm a breakout.
Next, a rising trendline highlights the series of higher lows over the longer term. In addition, the 8-day exponential moving average (EMA) has remained above the 21-day EMA. Those patterns may indicate that direction is still pointing higher.
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WDC Western Digital Corporation Options Ahead of EarningsIf you haven`t bought WDC before the previous earnings:
Then analyzing the options chain and the chart patterns of WDC Western Digital Corporation prior to the earnings report this week,
I would consider purchasing the 67.50usd strike price in the money Calls with
an expiration date of 2024-9-20,
for a premium of approximately $9.10.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Western Digital ($WDC) Reaches New 1-Year High at $70.85Western Digital Corporation (NASDAQ: NASDAQ:WDC ) recently hit a new 1-year high at $70.85, underscoring the company's resilience and growth trajectory amidst dynamic market conditions. As investors analyze WDC's performance, it's essential to delve into the firm's financial health, recent earnings results, and investor sentiment to glean insights into its future prospects.
Financial Strength and Performance:
With a robust quick ratio of 0.98 and a current ratio of 1.67, Western Digital (NASDAQ: NASDAQ:WDC ) demonstrates solid liquidity and operational efficiency. The firm's fifty-day and two-hundred-day moving averages of $59.26 and $51.06, respectively, reflect sustained positive momentum in its stock performance, further bolstering investor confidence.
Earnings Beat and Revenue Growth:
Western Digital's recent earnings report exceeded expectations, with the data storage provider reporting ($0.69) EPS for the quarter, surpassing the consensus estimate by $0.61. Despite challenges, the firm achieved revenue of $3.03 billion, slightly above analyst estimates. However, it's noteworthy that Western Digital's revenue for the quarter experienced a marginal decline of 2.4% compared to the previous year.
Analyst Projections and Investor Activity:
Analysts anticipate Western Digital Co. to post -2.31 EPS for the current fiscal year, signaling cautious optimism amidst evolving market dynamics. Meanwhile, hedge funds and institutional investors have shown confidence in WDC, with several large investors increasing their stakes in the business, underscoring long-term growth prospects.
Business Profile and Future Prospects:
As a leading developer, manufacturer, and seller of data storage devices and solutions, Western Digital ( NASDAQ:WDC ) is poised to capitalize on evolving market trends across various sectors, including consumer electronics, automotive, IoT, and industrial applications. The company's diverse product portfolio, spanning HDDs, SSDs, and flash-based embedded storage products, positions it for sustained growth in the digital age.
SSD prices set to surge -- and so is Western Digital WDC"NAND flash prices are expected to increase by as much as 50 percent in the short term, which will eventually result in more expensive solid-state drives."
www.techspot.com
This week, WDC broke out above value for the month and is looking to target the next upside monthly VPOC at 59.69. Should the strength continue (and by the sounds of things it will), look for a higher target at the yearly VPOC at 68.65.
I like a stop inside of the developing value area.
WDC Stock Surges as Merger Talks with Kioxia Gains Traction
In a recent turn of events, Western Digital Corporation (NASDAQ: NASDAQ:WDC ) is making headlines in the financial world as reports suggest a renewed interest in merger discussions with Japan's Kioxia Holdings Corp. The potential merger, facilitated by Bain Capital and SK Hynix, has sparked optimism among investors and analysts alike. This development comes after talks broke down last October, but with new discussions on the horizon, there's growing anticipation of a transformative deal that could reshape the landscape of the computer hardware and storage industry.
The Merger Buzz:
According to the Kyodo newswire, Bain Capital has reopened discussions with SK Hynix to explore the possibility of merging memory chip manufacturers Western Digital and Kioxia Holdings. Analysts view this prospect favorably, considering the operational efficiencies and market presence that could be achieved by combining these two industry giants.
Loop Capital analysts note, "While NASDAQ:WDC splitting into two separately trading equities is a positive catalyst, a merger would be an even bigger catalyst." This sentiment underscores the potential positive impact of a merger on both companies and their shareholders. The merger, if successful, could create a more robust entity within the computer hardware and storage sector, leading to improved market dynamics.
Analysts' Perspective:
Market analysts are expressing optimism about the potential merger, highlighting the positive implications for all parties involved. The combination of Western Digital ( NASDAQ:WDC ) and Kioxia is seen as a strategic move that could yield better long-term market dynamics, ultimately benefiting investors in both companies. This sentiment is echoed by Loop Capital analysts who emphasize the potential for a stronger growth rate as a result of the merger.
Technical Outlook:
From a technical standpoint, Western Digital's ( NASDAQ:WDC ) stock has broken the rising trend in the medium long term, signaling a potentially stronger growth rate. The absence of significant resistance in the price chart suggests further upward momentum.
Price Momentum:
Western Digital ( NASDAQ:WDC ) is currently trading near the top of its 52-week range and above its 200-day simple moving average. This indicates that investors have been actively pushing the share price higher, reflecting positive sentiment and confidence in the stock's future value.
Conclusion:
As Western Digital ( NASDAQ:WDC ) and Kioxia Holdings revive merger discussions, the market is abuzz with anticipation. Investors and analysts see the potential for a transformative deal that could enhance operational efficiencies and market presence, creating a more powerful player in the computer hardware and storage industry. With the stock still displaying upward momentum and trading near its 52-week high, it appears that investors are optimistic about the future prospects of Western Digital ( NASDAQ:WDC ), making it a stock to watch closely in the coming weeks.
Western Digital: Navigating the Waves of Tech Stock SurgeWestern Digital (NASDAQ: NASDAQ:WDC ) has emerged as a dynamic player, making waves in the market with recent developments that have caught the attention of investors and analysts alike. This article delves into the recent surge in Western Digital's stock, examining the factors contributing to its rise and the broader market dynamics shaping its trajectory.
The Morgan Stanley Boost:
The recent 5.2% surge in Western Digital's ( NASDAQ:WDC ) shares following Morgan Stanley's endorsement as a "Top Pick" has undoubtedly piqued investor interest. The decision to replace Nividia as a top choice and the substantial increase in the price target from $52 to $73 speaks volumes about the confidence that influential financial institutions have in the company's potential.
Morgan Stanley's analysts emphasize the compelling valuation disparity between Western Digital and its peers, highlighting the upcoming separation of the memory business in the second half. This move is anticipated to unlock the sum of the parts value, offering investors an attractive proposition. The optimism surrounding Western Digital ( NASDAQ:WDC ) is further fueled by the accelerated improvement in its business and the nuanced evaluation of the NAND cycle's pluses and minuses.
Market Resilience and Macroeconomic Context:
Against the backdrop of major indices reaching all-time highs, particularly the S&P achieving a milestone on January 19, 2024, the tech sector has been a standout performer since the second half of 2023. The anticipation of a rate cut by the Federal Reserve in 2024 has contributed to the sustained momentum, with investors eyeing opportunities in growth stocks.
Despite the overall bullish sentiment, the market's response to Western Digital's surge reflects a measured approach. The shares initially soared in the pre-market session but eventually cooled down, signaling that while the news is deemed meaningful, it may not fundamentally alter the market's perception of the company.
Volatility and Previous Movements:
Western Digital's ( NASDAQ:WDC ) shares have been marked by volatility, experiencing 10 significant moves greater than 5% in the past year alone. The recent surge, though notable, is contextualized within this broader trend. Investors appear to view these fluctuations as indicative of a stock with the potential for significant moves, yet not altering the fundamental outlook of the business.
Closing Thoughts:
Western Digital's ( NASDAQ:WDC ) journey over the past year reflects a company navigating the currents of market dynamics, with recent endorsements from reputable financial institutions adding a layer of confidence. As investors weigh the compelling valuation, the imminent separation of the memory business, and the broader tech sector trends, Western Digital stands at the intersection of opportunity and volatility, inviting careful consideration in an ever-changing market landscape.
WDC Western Digital Corporation Options Ahead of EarningsAnalyzing the options chain and the chart patterns of WDC Western Digital Corporation prior to the earnings report this week,
I would consider purchasing the 72.50usd strike price at the money Calls with
an expiration date of 2024-4-19,
for a premium of approximately $4.35.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
WDCThis Week FORECAST
Opportunity for WDC. This setup trading idea is for intraday. >> TAYOR
Risk Factors:
1. Market conditions, unexpected news, or external events could impact the trade.
2. Always use risk management strategies to protect your capital.
Time to short WDC The market almost reached a strong resistance area...will wait for confirmation like a double or triple top before starting selling...ew counting and my cycle counting are almost complete...this is not a buy call just sharing the idea
Western Digital Shares Soars Despite Market VolatilityShares of Western Digital Corp. (WDC) surged more than 6 % in early trading Tusday before giving back some gains after the computer hard drive manufacturer said it would spin off its flash memory business.
The decision comes amid lower demand for flash memory chips that has led to a supply glut in recent quarters. Last week, Western Digital abandoned lengthy discussions of a merger with Kioxia, a Japanese memory drive maker, which is owned by a consortium led by Bain Capital and is the former semiconductor unit of Toshiba.
Western Digital's decision to spin off its flash memory unit is a win for activist investor Elliott Investment Management, which last year advised the company to make such a move.
Western Digital first ventured into the flash drive business in 2016, when it acquired SanDisk, a California-based manufacturer of flash memory cards, for $19 billion. The spinoff of the flash memory unit will effectively unwind that transaction.
Western Digital shares were nearly 8% higher around 3:30 p.m. ET, after surging more than 10% early in the session. They've risen by almost a third so far this year.
Analysts at Wedbush Securities assigned an "outperform" rating for WDC, and are eyeing a price target of $60 per share.
Price Momentum
WDC is trading in the middle of its 52-week range and above its 200-day simple moving average.
What does this mean?
Investors are still evaluating the share price, but the stock still appears to have some upward momentum. This is a positive sign for the stock's future value.
My target Taking profit for WDCWDC has been making big uptrend movements since my last analysis...so my target for taking profit is at 50.50...and I believe the price will reverse to the downside when arrive at this area resistance...
WDCWDC already hit TP 1 now can focus to TP 2. This setup for intraday position. >> TAYOR
Take Profit: 50
WDC call - I think we can get bounce here After we breakout downtrend from last Jun/2021 and we got monthly close above it and retest the trend was successful, So we have targets based on harmonic patterns - i'm bullish right now NASDAQ:WDC
WDC - Recovery In Down ChannelWDC is hitting the bottom of a trend line support on the daily timeframe
A nice double bottom has emerged as well.
Recovery back into the slight down channel in green lines.
levels to manage $WDC risks The 21 analysts offering 12-month price forecasts for Western Digital Corp have a median target of 50.00, with a high estimate of 60.00 and a low estimate of 31.00.
WDC looking for support to reboundMy view is downtrend just pullback for wave 2...Price is looking for support to go up back
First 80W cycle after major 56M concludedAccording to our forecast, we are moving now over the first 80W cycle bottom after the great reset in 2020.
We are getting big time into WDC now, expecting the price to go even over 100USD next year, with a safe target of 90 USD
When we proceeded with phasing analysis just around the big dump in March 2020 we saw that a major 56month cycle bottom got aligned with it.
The price moves later confirmed 100% the phasing analysis was correct.
This way we got one of best deals in 2020.
Now is the chance to get the second shot.
Same pattern?If the pattern repeats, looks like a sharp reversal in 2023. AMAT recently put out a bullish outlook.
