Western Digital Corp (NASDAQ: WDC)

Western Digital Corporation, through its subsidiaries, develops, manufactures, and sells storage products and solutions that enable people to create, manage, experience, and preserve digital content. It provides hard drives and solid-state hybrid drives for desktop and mobile personal computers (PCs); and hard drives and solid-state drives for performance enterprise and capacity enterprise markets. The company also offers drives used in consumer electronic solutions, such as digital video recorders, gaming consoles, set top boxes, camcorders, and entertainment and navigation systems in automobiles. The company sells its products to computer manufacturers, resellers, and retailers worldwide. It serves storage subsystem suppliers, Internet and social media infrastructure players, and PC and Mac providers.
To review Western's stock, please take a look at the 1-year chart of WDC (Western Digital Corporation) below with my added notations:
WDC has formed a very clear down-channel chart pattern over the last (2) months. A channel is simply formed through the combination of a trend line support that runs parallel to a trend line resistance. When it comes to channels, remember that any (3) points can start the channel, but a 4th point or more confirms it. You can see that WDC has (5) points of channel resistance (red) and (2) points of channel support (blue). Following the WDC channel can provide you with both long and short trading opportunities.

The Tale of the Tape: WDC has formed a common pattern know as a channel, in this case, a down channel. A long trade can be entered on a pullback to the channel support, which at this point is near 57.50, or on a breakout through the channel resistance, currently sitting near $65. Short trades could also be placed at channel resistance or if WDC were to break below the channel support.
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