Western Digital (WDC) Offering Possible 37.36% Return Over the Next 10 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 $52.50 short call and a strike $57.50 long call offers a potential 37.36% return on risk over the next 10 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $52.50 by expiration. The full premium credit of $1.36 would be kept by the premium seller. The risk of $3.64 would be incurred if the stock rose above the $57.50 long call 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 down which suggests that the medium-term momentum for Western Digital is bearish.

The RSI indicator is below 20 which suggests that the stock is in oversold territory.

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

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Fri, 04 Feb 2022 22:05:26 +0000
Stocks, especially the once high flying technology stocks, had a lousy start to the new year. QQQ lost 9% of its value in January. We aren’t certain about the bubbly technology stocks that trade for ridiculously high multiples of their revenues, but we believe top hedge fund stocks will deliver positive returns for the rest […]

Western Digital Is Cheaply Valued
Fri, 04 Feb 2022 17:51:36 +0000
The company is facing short-term challenges, but the long-term outlook is promising

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Thu, 03 Feb 2022 22:38:42 +0000
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Zacks Industry Outlook Highlights: NetApp, Western Digital and Pure Storage
Thu, 03 Feb 2022 09:42:09 +0000
NetApp, Western Digital and Pure Storage are highlighted in this Industry Outlook article.

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