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Around 76% of Analysts Recommend a ‘Buy’ for WDC Stock

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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.

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Analysts’ recommendations

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.

Moving averages

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.

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