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.
To review Western’s stock, please take a look at the 1-year chart of WDC (Western Digital Corporation) below with my added notations:

Since the beginning of the year WDC has essentially been trading sideways while forming a common pattern known as a rectangle. A minimum of (2) successful tests of the support and (2) successful tests of the resistance will give you the pattern. WDC’s rectangle pattern has formed a $90 resistance (red) and an $82.50 support (blue). A break above $90 would also be a new 52-week high.

The Tale of the Tape: WDC is trading within a rectangle pattern. The possible long positions on the stock would be either on a pullback to $82.50, or on a breakout above $90. The ideal short opportunity would be on a break below $82.50.
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