Western Digital (WDC) Offering Possible 21.65% Return Over the Next 9 Calendar Days

Western Digital's most recent trend suggests a bearish bias. One trading opportunity on Western Digital is a Bear Call Spread using a strike $81.00 short call and a strike $86.00 long call offers a potential 21.65% return on risk over the next 9 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $81.00 by expiration. The full premium credit of $0.89 would be kept by the premium seller. The risk of $4.11 would be incurred if the stock rose above the $86.00 long call strike price.

The 5-day moving average is moving down which suggests that the short-term momentum for Western Digital is bearish and the probability of a decline in share price is higher if the stock starts trending.

The 20-day moving average is moving down which suggests that the medium-term momentum for Western Digital is bearish.

The RSI indicator is at 21.97 level which suggests that the stock is neither overbought nor oversold at this time.

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LATEST NEWS for Western Digital

2015 tech laggards: Disappointing PC market
Tue, 07 Jul 2015 17:46:00 GMT

Needham Slashes Seagate, Western Digital Targets On ‘Softer' PC Market
Tue, 07 Jul 2015 14:38:37 GMT
Benzinga – In a report published Tuesday, Needham analyst Richard Kugele commented on the PC market, noting that the softness in the market is “known” and “estimates need to now reflect that dynamic.” …

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Tue, 07 Jul 2015 14:15:00 GMT

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Western, Seagate: Deutsche, Pac Crest Bullish Despite Drive Drop
Mon, 06 Jul 2015 19:51:00 GMT
Barrons.com – The bullish view of things today is offered by Sherri Scribner of Deutsche Bank, who has Buy ratings on both Western Digital (WDC) and Seagate Technology (STX), whose shares are oversold based on drive concerns, she writes. Probably, total industry shipments were just 115 million to 120 million for the quarter, below Seagate's forecast for 125 million industry units shipped, and a 120 million estimate for Western. Scribner cuts her fiscal '15 forecast for Seagate to $13.89 billion in revenue and $4.56 in EPS from a prior $14.09 billion and $4.73 per share, and cuts her target to $60 from $65.

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