Western Digital (WDC) Offering Possible 31.31% 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 $64.00 short put and a strike $57.50 long put offers a potential 31.31% 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 $64.00 by expiration. The full premium credit of $1.55 would be kept by the premium seller. The risk of $4.95 would be incurred if the stock dropped below the $57.50 long put 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 29.13 level which suggests that the stock is neither overbought nor oversold at this time.

To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here

LATEST NEWS for Western Digital

The Funded: DoorDash's second big funding this year tops Bay Area deals at week's end
Fri, 17 Aug 2018 19:03:08 +0000
DoorDash was valued at $4 billion in the deal that comes just five months after it raised $535 million in another round at a valuation of about $1.4 billion.

Why Western Digital Shareholders Have Nothing to Worry About
Fri, 17 Aug 2018 10:04:00 +0000
The company has been pummeled since releasing its fourth quarter earnings report. Is Mr. Market overreacting?

3 Stocks That Are Absurdly Cheap Right Now
Thu, 16 Aug 2018 21:51:00 +0000
Bargain hunting? Check out these top cheap stocks right away.

Morgan Stanley Downgraded Applied Materials
Thu, 16 Aug 2018 13:35:02 +0000
The companies reported weakness in memory WFE (wafer fab equipment) spending and acknowledged their exposure to the US-China trade war. Currently, the stocks are trading near or below their bearish target price. Cowen analyst Krish Sankar upgraded Applied Materials from $60 to $62. Sankar stated that investors have already priced in the memory weakness and lower revenue estimates from Display. The stock could increase from spending in the foundry and logic markets.

Excelero Receives Strategic Investment from Western Digital, Capping Five Successive Quarters of Strong Growth
Thu, 16 Aug 2018 10:00:00 +0000
SAN JOSE, Calif., Aug. 16, 2018 /PRNewswire/ —  Excelero, a disruptor in software-defined block storage, announced that it received strategic investment funds from Western Digital Capital, the strategic investment fund of Western Digital Corp. This investment represents the fourth strategic player to invest in Excelero, including Micron and Qualcomm, and brings the total VC funds invested in Excelero to $35 million. Separate from the funding, Excelero and Western Digital have begun technical collaboration activities whereby the two firms are offering web-scale storage solutions to some of the world's largest, most demanding enterprises and service providers.

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