Western Digital is Down Over 55% in the Last 8...

Rick Pendergraft

published in Blogs

Nov 30, 2018

Western Digital is Down Over 55% in the Last 8 Months

Hard drive manufacturer Western Digital (Nasdaq: WDC) has been trending lower for over eight months now and the stock has formed a trend channel around the cycles. The upper rail of the channel is in close proximity to the stock’s 50-day moving average and that could make it even more difficult for the stock to break out of the down trend.

The stock peaked back at $104.80 back on March 16 before falling to a recent low of $40.58. That is a drop of 61.3% from the high to the low. For you Fibonacci fans, that is close to the Fibonacci retracement of 61.8%.

The stock went through a similar drop from December ’14 through May ’16. During the selloff the stock dropped from $102.53 to $32.59. After hitting that low in 2016, the stock rallied to the all-time in March.

The fundamentals are a bit of a mixed picture for Western Digital. Earnings have been declining recently with the most recent quarter showing a drop of 15%. Analysts expect the earnings to decline by 51% for the year as a whole.

On the other hand, the profitability measurements are really good. The return on equity is currently at 39.4% and the profit margin is at 23.2%.

It’s hard to tell how much further the stock could fall. The low from 2016 could come in as support, but that is another 28.4% drop from where the stock closed on Thursday.

Related Tickers: WDC

Sergey Savastiouk

published in Blogs

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If the stock market were Major League Baseball, hedge funds and institutional investors would be the pros on championship teams while everyday self-directed investors (SDIs) are the benchwarmers in the minors.It’s how they get ahead, and it’s why 90% of SDIs lose money trying to play (invest and trade) in the major leagues. The 4 tricks we discuss below are rooted in one common theme: they all use Artificial Intelligence and algorithms to generate data and ideas.

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published in Blogs

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published in Blogs

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published in Blogs

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Sergey Savastiouk

published in Blogs

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Abhoy Sarkar

published in Blogs

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published in Blogs

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published in Blogs

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Abhoy Sarkar

published in Blogs

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US unemployment rate jumps to 14.7%, the highest in series history

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