WDC stock is down 5% in October
Western Digital’s (WDC) stock price rose 20.0% in calendar 2016 and was up 17.0% in 2017. Since the start of 2018, its stock price has declined ~28.0%, wiping out its significant investor gains. WDC stock has declined 35.0% in the last 12 months. It has generated returns of -2.5% in the last month and 3.0% in the last five trading days.
Has WDC stock bottomed out, or could there be more downside for investors? Let’s see what Wall Street thinks.
Of the 29 analysts tracking Western Digital (WDC) stock, 22 recommended a “buy,” and seven recommended a “hold.” There were no “sell” recommendations for the stock.
Analysts’ 12-month average price target for WDC is $97.42, and the median estimate is $98.00. WDC is trading at a discount of 76.0% to the median analyst estimate.
On October 17, WDC closed the trading day at $55.76. Based on that price, the stock was trading as follows:
- 19.0% below its 100-day moving average of $69.12
- 7.0% below its 50-day moving average of $59.88
- 2.3% below its 20-day moving average of $57.10
MACD and RSI
WDC’s 14-day MACD (moving average convergence divergence) is -0.59. A stock’s MACD is the difference between its short-term and long-term moving averages. WDC’s negative MACD score indicates a downward trading trend.
WDC has a 14-day RSI (relative strength index) score of 39, which shows that the stock is trading closer to oversold territory. An RSI score above 70 indicates that a stock has been overbought, while an RSI score below 30 indicates that a stock has been oversold.