Learn to Evaluate (WDC) using the Charts

August 21, 2024, 03:06 am ET, BY Patrick- Contributor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for WDC

• NONE. Details

There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.
This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.

• Short WDC slightly under 67.03, target n/a, stop loss @ 67.22 Details

The technical summary data is suggesting a short of WDC as it gets near 67.03, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 67.22. 67.03 is the first level of resistance above 64.42, and by rule, any test of resistance is a short signal. In this case, if resistance 67.03 is being tested, so a short signal would exist.

Swing Trading Plans for WDC

• Buy WDC slightly over 64.48, target 66.06, Stop Loss @ 64.29 Details

If 64.48 begins to break higher, the technical summary data tells us to buy WDC just slightly over 64.48, with an upside target of 66.06. The data also tells us to set a stop loss @ 64.29 in case the stock turns against the trade. 64.48 is the first level of resistance above 64.42, and by rule, any break above resistance is a buy signal. In this case, 64.48, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short WDC slightly near 64.48, target n/a, Stop Loss @ 64.67. Details

The technical summary data is suggesting a short of WDC if it tests 64.48 with a downside target of n/a. We should have a stop loss in place at 64.67 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 64.48, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for WDC

• Buy WDC slightly over 64.48, target 64.74, Stop Loss @ 64.33 Details

If 64.48 begins to break higher, the technical summary data tells us to buy WDC just slightly over 64.48, with an upside target of 64.74. The data also tells us to set a stop loss @ 64.33 in case the stock turns against the trade. 64.48 is the first level of resistance above 64.42, and by rule, any break above resistance is a buy signal. In this case, 64.48, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short WDC slightly near 64.48, target n/a, Stop Loss @ 64.63. Details

The technical summary data is suggesting a short of WDC if it tests 64.48 with a downside target of n/a. We should have a stop loss in place at 64.63 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 64.48, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for  Western Digital Corporation (WDC) available here: WDC.

WDC Ratings for August 21:

Term →	Near	Mid	Long
Rating	Strong	Neutral	Strong
P1	0	0	67.03
P2	64.74	64.48	76.4
P3	65.88	66.06	85.65

AI Generated Signals for WDC

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When #institutionalinvestors make decisions to buy and sell #stocks they normally want to keep it quiet.  However, if we pay close attention we can see what is going on, and make good decisions.. The  Western Digital Corporation (NYSE: WDC) report below can help you understand how to do this. The trading plans for WDC, are updated in real time for subscribers, but this report is static. If you want an update, or a different report on a different stock, please get one here Unlimited Real Time Reports.