Western Digital Corp. | WDC

Daily Technical Analysis of Western Digital Corp.

Western Digital is up a bit on the day, funds flowing in kept the price up 2.76% since yesterday.

Currently WDC isn't at a clear support/resistance line that seems tradable. But let's also consider momentum! Western Digital has had a nice run over the last year and provided good returns to shareholders. Over the previous year, the Computer Hardware company has grown 117.83 percent which isn't too bad. WDC might find some support at the 45.96 level, buyers might push the price back up from here. But it's not very clear what will happen.

Last analyzed on 2024-03-17

Analyst Ratings for Western Digital By Price Target And Rating

Analysts currently have an extremely positive outlook for Western Digital. This normally relates to positive future price increases, especially on pullbacks. The current Analysts Sentiment Score is 440.03. Most companies range between (-200 to 200).

Here's a break down of the latest rating changes. Morgan Stanley gave a boost to their price target and moved to $86.00 from $83.00 on 2024-04-26. On 2024-04-26 there was an upgrade provided by Benchmark from Hold to Buy and provided a price target of $85.00. Robert W. Baird provided a price target boost of 53.85% to $100.00 from $65.00 on 2024-04-26. Evercore ISI provided a price target boost of 6.25% to $85.00 from $80.00 on 2024-04-26. On 2024-04-26 there was confirmation of the previous rating by Wedbush which was Outperform and provided a price target of $85.00. Raymond James downgraded from Outperform to Market Perform on 2024-04-22. On 2024-04-22 Barclays increased their price target by 14.29% to $80.00. Bank of America gave a boost to their price target and moved to $85.00 from $75.00 on 2024-04-17. On 2024-04-15 UBS Group increased their price target by 23.08% to $80.00. On 2024-04-12 The Goldman Sachs Group increased their price target by 31.03% to $76.00.

Company	Ratings Score ? Composite analyst sentiment score	Positive Ratings	Negative Ratings	Boost Price Target	Lower Price Target
WDC	440.03	347.32	-95.63	628.37	0

Earnings Per Share (EPS) Estimates By Year and Quarter

(updated 2024-03-30)

Company	YOY Growth Score (typical -20 to +20)	Revision Directions (-6 to +6)
WDC	0.00	0.00

Short interest for Western Digital

We take into account several different measures of short interest to create a composite score. These measures are shown in the chart below. Short selling is when investors are betting against a stock. We compile these factors to create a dynamic Short Score - this can indicate poor sentiment, internal problems with a company or industry and the anticipation of future price declines. We look at the short interest percent, days to cover, the rate of change and total shares sold short.

Company	Short Score (typical 1-15) ? We take into account several different measures and attributes of short interest to create a composite sentiment score. typical range (0 - 30)	Short Interest	Days to Cover	Rate of Change	Shares Short
WDC	2.45	%2.51909	2.3	2.31	7850000

How Western Digital compares to the broader Technology sector and the more specific Computer Hardware industry

Segment	Count	1 Day%	5 Day	1 Month	3 Month	6 Month	1 Year	RSI	3mo S-momo ? Smooth Momentum is our proprietary technical indicator that looks for momentum with the greatest consistency and steady velocity. We have penalized dramatic swings and fluctuations. If the momentum is too high and an asset spikes upward, this is often unreliable and collapses back down. But the smoothed momentum provides the highest probability of continuing into the near future with the same directional rate of change. Several complex factors are weighted by neural nets to maximize probabilistic accuracy. It works the same with positive or negative directions.	6mo S-momo	1yr S-momo	Resistance ? Support and Resistance levels are determined by previous high and low points. You may be familiar with traders drawing lines across charts where several peaks or valleys occur in the same range. This helps us understand the trading range of an asset where the market doesn't perceive it to be worth more or less than a certain price level. When it nears the boundaries of this range the probability of reversal can increase. Our neural nets create scores for this measure based on many factors such as the frequency, recency, size, consistency, etc of previous reversal points.	Support	Demark Sell ? Demark 9 indicators are designed to look for exhaustion in the selling or buying trend which can often be predictive of a reversal point. This indicator is triggered when there are 9 consecutive days where the closing price is higher/lower than the closing price 4 days ago. Like all indicators, it is best used in combinations with other factors.	Demark Buy	Short Interest	Analysts Ratings ? We track several different measures of analyst sentiment including ratings and price targets. To create a composite Analyst Sentiment Score, we weight several factors such as the recent rate of change which can be more predictive than the absolute level. We also weight each analyst's opinion based on their historic accuracy. We built in a time decay function to ensure that the rating reflects the current sentiment levels. Typical range (-80 to +80)
Computer Hardware Show Me Companies With: S-Momentum: Highest \| Lowest At Bottom Support At Top Resistance RSI Highest \| Lowest 1 Day Growth: Highest \| Lowest 5 Day Growth: Highest \| Lowest 1 Month Growth: Highest \| Lowest 6 Month Growth: Highest \| Lowest List All Stocks	68	1.09	3.08	-3.25	2.27	22.64	27.70	42.24	36.59	22.26	26.07	-13599.10	-13305.26	10.66	8.09	4.12	29.59
Technology Show Me Companies With: S-Momentum: Highest \| Lowest At Bottom Support At Top Resistance RSI Highest \| Lowest 1 Day Growth: Highest \| Lowest 5 Day Growth: Highest \| Lowest 1 Month Growth: Highest \| Lowest 6 Month Growth: Highest \| Lowest List All Stocks	304	1.19	2.73	-5.41	-0.57	21.18	23.91	43.57	34.05	19.52	25.04	-14529.85	-13021.09	6.50	7.98	4.68	53.42

Social Sentiment for Western Digital

Social Sentiment is an aggregation of several different factors such as news, articles, blogs, user content, ratings, etc. Which is shown in the chart below. It may become predictive of a reversal if price and the sentiment diverge. Broader market forces may push prices up or down but if market participants maintain a different view on a specific stock, it may be taken as an opportunity to buy or sell in those cases.

Ticker	Social Sentiment(1-10)
WDC

Companies with the highest correlation to Western Digital

Company	Score	1 Day%	5 Day	1 Month	3 Month	6 Month	1 Year	RSI	3mo S-momo ? Smooth Momentum is our proprietary technical indicator that looks for momentum with the greatest consistency and steady velocity. We have penalized dramatic swings and fluctuations. If the momentum is too high and an asset spikes upward, this is often unreliable and collapses back down. But the smoothed momentum provides the highest probability of continuing into the near future with the same directional rate of change. Several complex factors are weighted by neural nets to maximize probabilistic accuracy. It works the same with positive or negative directions.	6mo S-momo	1yr S-momo	Resistance ? Support and Resistance levels are determined by previous high and low points. You may be familiar with traders drawing lines across charts where several peaks or valleys occur in the same range. This helps us understand the trading range of an asset where the market doesn't perceive it to be worth more or less than a certain price level. When it nears the boundaries of this range the probability of reversal can increase. Our neural nets create scores for this measure based on many factors such as the frequency, recency, size, consistency, etc of previous reversal points.	Support	Demark Sell ? Demark 9 indicators are designed to look for exhaustion in the selling or buying trend which can often be predictive of a reversal point. This indicator is triggered when there are 9 consecutive days where the closing price is higher/lower than the closing price 4 days ago. Like all indicators, it is best used in combinations with other factors.	Short Interest Score
EMN \| Eastman Chemical Company	1.39	-0.59	-1.55	-4.73	12.61	36.32	18.62	74	23.17	15.69	14.71	-591.58	-17504.11	0	1.12457
AMP \| Ameriprise Financial, Inc	1.29	-0.22	-2.70	-5.71	6.21	29.61	35.58	68	191.33	51.99	73.53	0.00	-36685.72	0	1.49246
ARW \| Arrow Electronics, Inc.	1.27	0.60	4.30	-0.35	15.36	14.50	14.49	62	-0.36	-3.07	-6.61	-4436.41	-10912.81	0	7.53772
STX \| Seagate Technology Holdin	1.23	-1.40	1.01	-6.25	-0.88	30.68	51.48	14	107.78	95.42	116.69	-2372.97	305.94	0	6.19592
VSH \| Vishay Intertechnology, I	1.15	2.40	7.56	0.49	2.91	-0.22	6.64	33	-13.60	-21.43	-12.07	-7234.89	-850.82	0	11.2009
MTW \| The Manitowoc Company, In	1.14	-1.17	-1.10	-9.52	-24.31	0.32	-15.17	33	-8.73	-13.03	-6.54	-9253.00	175.34	0	4.81325
MU \| Micron Technology, Inc.	1.12	2.92	5.24	-7.61	34.14	77.96	85.53	43	106.51	108.36	68.56	-1225.00	-28719.22	0	1.66961
TXT \| Textron, Inc.	1.08	1.90	-7.74	-9.25	0.82	13.80	31.96	84	119.41	49.75	65.73	0.00	-57638.78	150	2.47718

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