Western Digital Corp. - (WDC) - December 10, 2020 

Western Digital (WDC) shares have been steadily climbing back up the rankings in the SIA NASDAQ 100 Index Report since September. Having gained 3 spots yesterday and 43 spots in the last month, the shares have moved up out of the red zone into the Yellow Neutral Zone. WDC is currently 9 spots away from the green zone where it has not been since March.

A major breakout is underway in Western Digital (WDC) shares which recently completed a bullish Ascending Triangle base which has been forming since March with a breakout over $50.00.

Next potential upside resistance appears in the $65.00 to $73.00 zone where multiple measured moves and the 52-week high cluster. Initial support moves up to the $50.00 breakout point from $45.00.

Western Digital (WDC) shares struggled through the summer but since bottoming out in August, accumulation has resumed and even accelerated in recent weeks. A trend of increasingly higher bullish Double Top breakouts has evolved into a pole which has snapped a downtrend line, completed a bullish Spready Triple Top breakout and regained the $50.00 level lately.

Initial upside resistance appears near previous column highs and lows in the $54.75 to $55.85 range, then $62.90 and $65.42 where a horizontal count and previous low converge. Initial support appears near $46.65, where a recent breakout point converges with a 3-box reversal.

With a perfect SMAX score of 10, WDC.TO is exhibiting near-term strength across the asset classes.

Disclaimer: SIACharts Inc. specifically represents that it does not give investment advice or advocate the purchase or sale of any security or investment whatsoever. This information has been prepared without regard to any particular investors investment objectives, financial situation, and needs. None of the information contained in this document constitutes an offer to sell or the solicitation of an offer to buy any security or other investment or an offer to provide investment services of any kind. As such, advisors and their clients should not act on any recommendation (express or implied) or information in this report without obtaining specific advice in relation to their accounts and should not rely on information herein as the primary basis for their investment decisions. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable. SIACharts Inc. nor its third party content providers make any representations or warranties or take any responsibility as to the accuracy or completeness of any recommendation or information contained herein and shall not be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. Any statements nonfactual in nature constitute only current opinions, which are subject to change without notice.

Keep up to date on the latest financial market news.

Receive a daily newsletter with stock highlights, ETF rankings, weekly market focus and others.