Western Digital Offering Possible 25% Return Over the Next 29 Calendar Days

Western Digital's most recent trend suggests a bullish bias. One trading opportunity on Western Digital is a Bull Put Spread using a strike $80.00 short put and a strike $75.00 long put offers a potential 25% return on risk over the next 29 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $80.00 by expiration. The full premium credit of $1.00 would be kept by the premium seller. The risk of $4.00 would be incurred if the stock dropped below the $75.00 long put strike price.

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

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

The RSI indicator is at 74.79 level which suggests that the stock is neither overbought nor oversold at this time.

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LATEST NEWS for Western Digital

Western Digital: Needham Ups Target to $100 on Possible Multiple Expansion
Thu, 19 Dec 2013 20:04:00 GMT
Barrons.com – Needham & Co.'s Richard Kugele today reiterates a Strong Buy rating on shares of disk drive maker Western Digital (WDC), while upping his price target to $100 from $81, writing that it is one of his “top picks” for 2014 after a 90% rise in the shares thus far this year. Trends in the drive industry continue to point to a more rational storage market, balancing supply and demand, he writes: “We believe the HDD supply stability will continue into 2014, with a tailwind from what we expect will be strong IT spending and improved commercial PC demand (driven by the April 2014 expiration of Windows XP support and the aging installed base of desktops and laptops within corporations).” In addition, he notes, the company is in the process of getting approval from Chinese regulators to integrate the company's HGST unit, formerly part of Hitachi, which Western bought in March of 2012, but which has been operating at arm's length as it goes through bureaucratic red tape.

Hercules Technology Growth Capital Announces Quarter-to-Date Portfolio Update for Q4 2013
Thu, 19 Dec 2013 18:02:57 GMT
noodls – 8 Announced or Completed Liquidity Events Quarter-to-Date Q4 2013 4 Portfolio Companies Currently in IPO Registration Quarter-to-date Q4 2013 Closed Commitments of ~$121.0 million Quarter-to-date Q4 2013 …

Stocks soar as Fed cuts stimulus, citing jobs
Thu, 19 Dec 2013 00:08:34 GMT
AP – See, it wasn't so bad. Investors sent stock soaring and pushed the Dow Jones industrial average up more than 200 points Wednesday afternoon after the Federal Reserve decided to dial back its extraordinary …

Stocks soar as Fed cuts stimulus, citing jobs
Thu, 19 Dec 2013 00:08:34 GMT
AP – The stock market had a swift and clear reaction to the Federal Reserve's decision to trim its stimulus efforts: That wasn't so bad after all. Stocks surged Wednesday, lifting the Dow Jones industrial average …

Hewlett-Packard, Western Digital Raised to Buy at JP Morgan Despite IT Sluggishness
Wed, 18 Dec 2013 00:14:00 GMT
Barrons.com – As mentioned this morning, J.P. Morgan's Mark Moskowitz today cut his outlook for global IT spending in 2014, but found enough bright spots to raise his ratings on shares of Hewlett-Packard (HPQ) and Western Digital (WDC) to Overweight from Neutral. The stock can see multiple expansion, assuming decent earnings growth: In our view, double-digit earnings growth potential should elevate WD's price-toearnings multiple to a glide path of 10-11x over time, and there could be incremental upward mobility if WD can continue to grow earnings and return cash to shareholders at a time when other old-guard technology companies may struggle with revenue pressures and M&A risk.

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