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Western Digital Bearish Moving Average Crossover Alert (WDC)

Published on Tue, 01/29/2013 - 12:11
By Adrienne Chilton

Western Digital (NYSE:WDC) crossed under its 10-day moving average of $46.52 on a volume of 3.4 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Western Digital share prices have been bracketed by a low of $28.31 and a high of $49.50 and are now at $46.06, 63% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.0% while the 200-day MA has risen 0.3%.

Western Digital (NYSE:WDC) has potential upside of 4.6% based on a current price of $46.06 and analysts' consensus price target of $48.17. Western Digital shares have support at the 50-day moving average (MA) of $40.07 and additional support at the 200-day MA of $37.80.

Western Digital Corporation designs and manufactures hard drives for desktop computers and home entertainment applications.

By Adrienne Chilton