Western Digital Rallies 4.90% Near 52 Week High
$Western Digital(WDC)$
Western Digital (WDC) Rallies +4.90%: Testing New Highs Near $256.50
Latest Close Data
Closed at $252.66 (+4.90% on 01/28). Currently just $3.84 (-1.5%) below its 52-week high of $256.50.
Core Market Drivers
Strong momentum persists in the data storage sector. WDC's recent operational updates on flash memory and HDD technology leadership are driving positive sentiment. Pre-market and after-hours activity indicate continued bullish interest.
Technical Analysis
Volume was robust at 7.48M shares (Vol Ratio 0.97). The RSI(6) at 80.35 signals strong bullish momentum but is approaching overbought territory. MACD (DIF: 18.30, DEA: 15.35, MACD: 5.90) shows a bullish expansion, confirming the uptrend's strength.
Key Price Levels
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Immediate Pivot: $253.24 (Recent Resistance). A break above targets the 52-week high.
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Strong Resistance: $256.50 (52-Week High). The key psychological and technical barrier.
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Primary Support: $240.85 (Yesterday's Close). This level now acts as near-term support.
Valuation Perspective
Forward P/E stands at 32.28, significantly above its historical average of -9.47 and the +1 Std. Dev. of 23.83, indicating high growth expectations are priced in.
Analyst Targets
24 analysts have an average target price of $221.42 (range $92-$300). Sentiment is bullish with 5 Strong Buy, 18 Buy, and 5 Hold ratings.
Weekly Outlook
Expect consolidation near the $256.50 resistance. A successful breakout could target the $270-$275 range. Failure to break higher may lead to a pullback towards the $245-$250 support zone.
Risk Disclaimer
This analysis is for informational purposes only and not financial advice. Past performance does not guarantee future results. Trading involves risk, including the potential loss of principal. Conduct your own research before making any investment decisions.
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Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
