Western Digital bounces, the Sell signal still holds
Western Digital stock rises 4.8%, yet daily highs keep trending lower
Western Digital bounces, the Sell signal still holds
Our view last week
Western Digital closes the week with an 8.9% bounce, the second in a row, carving out a clean double bottom in the 487 area with a 65% retracement: the run of lower highs breaks. Western Digital stock, though, is still inside a sell signal in its fourth week, with signal strength down to 49 out of 100 — an isolated pullback, not the push seen last week. Contracting volume and sellers still slightly in charge say the decline hasn't really given up ground yet.
This week's summary
Western Digital stock closes the week up 4.8%, its second straight gain after the 18.1% plunge two weeks ago, with volume swinging firmly back to the buy side. The Sell signal, though, still holds in its 5th week: daily highs keep trending lower and the trend is losing conviction, with ADX declining. Earnings are due this very week, an event risk worth watching closely.
IQS Phase
65
in tension
Signal Strength
2
decline losing steam
Sizing
MINIMUM
Ranking
#137 / 138
US stocks
Trade P&L %
-1.08%
from signal to date, no stop loss
Rank position
ranks 137th among the 138 sell signals for US stocks in our ranking, with a signal strength of 2 out of 100.
Sector context
SectorGrowth Tech
Benchmark ETFXLK
Sector regimeweak phase
Performanceweekly -0.30% · monthly -5.53%
WDC belongs to the growth tech sector (reference ETF XLK). The sector is classified weak phase according to our weekly reading.
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