Nov. 14 at 11:32 PM
$WDC: The current market context shows a last close at
$157.83, with an RSI of 67.66, indicating that the stock is nearing overbought territory. The 30-day moving average (MA30) is at
$137.6, and the 50-day moving average (MA50) is at
$125.99, both suggesting a strong upward trend. The stock is trading significantly above these MAs, reinforcing bullish sentiment.
However, the RSI indicates potential for a pullback, given its proximity to overbought levels. The 60-day high at
$178.45 provides a resistance level, while the 60-day low of
$74.57 offers support.
Suggested trade plan: Consider entering a short position if
$WDC breaks below
$155, with a stop loss at
$160 to manage risk. Target 1 at
$145, and Target 2 at
$135, aligning with the MA30 and MA50 levels.
Monitor the RSI for confirmation of momentum shifts.
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