Western Digital Corporation Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Western Digital Corporation stock upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on Apr 30, 2024)
The Western Digital Corporation stock price gained 1.39% on the last trading day (Tuesday, 30th Apr 2024), rising from $69.86 to $70.83. During the last trading day the stock fluctuated 3.72% from a day low at $69.58 to a day high of $72.16. The price has fallen in 6 of the last 10 days and is down by -0.32% for this period. Volume fell on the last day by -2 million shares and in total, 7 million shares were bought and sold for approximately $529.92 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 30.61% during the next 3 months and, with a 90% probability hold a price between $88.15 and $101.50 at the end of this 3-month period.
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WDC Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -4.15%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The Western Digital Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $69.72 and $67.87. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Western Digital Corporation stock
Western Digital Corporation finds support from accumulated volume at $68.15 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $2.58 between high and low, or 3.72%. For the last week, the stock has had daily average volatility of 5.81%.
Our recommended stop-loss: $67.88 (-4.16%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (WDC) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Western Digital Corporation to open at $70.86, and during the day (based on 14 day Average True Range), to move between $67.72 and $73.94, which gives a possible trading interval of +/-$3.11 (+/-4.39%) up or down from last closing price. If Western Digital Corporation takes out the full calculated possible swing range there will be an estimated 8.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $70.85 (0.03%) than the support at $68.15 (3.78%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Western Digital Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Western Digital Corporation stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.932 Buy Candidate Upgraded
Predicted Opening Price for Western Digital Corporation of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $70.86 ( 0.0353%) | $70.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WDC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 73.44 | 3.68 % | |
| R2 | 72.45 | 2.29 % | ||
| R1 | 71.84 | 1.43 % | ||
| Current price: | 70.83 | |||
| Support | S1 | 69.87 | -1.36 % | |
| S2 | 69.26 | -2.22 % | ||
| S3 | 68.27 | -3.61 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 71.62 | 1.12 % | |
| R2 | 71.36 | 0.748 % | ||
| R1 | 70.85 | 0.0282 % | ||
| Current price | 70.83 | |||
| Support | S1 | 68.15 | -3.78% | |
| S2 | 64.30 | -9.22% | ||
| S3 | 63.74 | -10.01% |
WDC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 13, 2020 | Apr 02, 2020 | Apr 17, 2020 | $0.500 | 1.18% |
| 2 | Nov 14, 2019 | Jan 02, 2020 | Jan 21, 2020 | $0.500 | 0.727% |
| 3 | Aug 07, 2019 | Oct 03, 2019 | Oct 22, 2019 | $0.500 | 0.85% |
| 4 | May 02, 2019 | Jun 27, 2019 | Jul 15, 2019 | $0.500 | 0.92% |
| 5 | Feb 14, 2019 | Mar 28, 2019 | Apr 15, 2019 | $0.500 | 0.96% |
FAQ
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