Western Digital - Barchart's Chart of the Day

Western Digital (WDC) is the Barchart Chart of the Day.  The computer storage device company has a Trend Spotter buy signal, a Weighted Alpha of 361.10+, gained 35.13% in the last year and paid a 1.52% dividend.

The Chart of the Day is Western Digital (WDC).  I found the stock by sorting the All Time High list for the stocks hitting the most frequent new highs in the last month ten used the Flipchart feature to review the charts.  Since the Trend Spotter signaled a buy on 10/31 the stock gained 9.01%,

Western Digital Corp. designs, develops, manufactures and markets a broad line of hard drives featuring leading-edge technology. The company's hard drives are designed for the desktop PC market and the high-end hard drive market and, recently, for the emerging market for hard drives specially designed for audio-visual applications, such as new video recording devices. The company sells its products worldwide to computer manufacturers for inclusion in their computer systems or subsystems and to distributors, resellers and retailers.

Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

• 80% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 15 new highs and up 9.79% in the lasts month
• Relative Strength Index 72.51%
• Barchart computes a technical support level at 101.65
• Recently traded at 107.23 with a 50 day moving average of 96.91

Fundamental factors:

• Market Cap $25.05 billion
• P/E 13.00
• Dividend yield 1.52%
• Revenue expected to grow .50% this year and another 1.30% next year
• Earnings estimated to increase 1.40% this year, an additional 7.90% next year and continue to compound at an annual rate of 6.67% for the next 5 years
• Wall Street analysts issued 6 strong buy, 13 buy, 5 hold and 1 under perform recommendation on the stock

I think that a moving stop loss 10% below the most recent high is the best way to find an exit point for this stock.