Exploring high growth characteristics of WESTERN DIGITAL CORP (NASDAQ:WDC).

Our stock screener has flagged WESTERN DIGITAL CORP (NASDAQ:WDC) as a potential breakout candidate. This occurs when the stock shows signs of consolidation after a notable upward trend. While we can't predict the actual breakout, it's worth monitoring NASDAQ:WDC for potential movement.

What is the technical picture of NASDAQ:WDC telling us.

Every day ChartMill assigns a Technical Rating to every stock. The score ranges from 0 to 10 and is determined by evaluating multiple technical indicators and properties.

We assign a technical rating of 8 out of 10 to WDC. In the past year, WDC was one of the better performing stocks in the market. The medium term picture became unclear, although we see some improvement happening in recent action.

• The short term trend is positive, while the long term trend is neutral. So this is evolving in the right direction.
• When comparing the yearly performance of all stocks, we notice that WDC is one of the better performing stocks in the market, outperforming 83% of all stocks.
• WDC is part of the Technology Hardware, Storage & Peripherals industry. There are 32 other stocks in this industry. WDC outperforms 77% of them.
• WDC is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so WDC is lagging the market.
• In the last month WDC has a been trading in the 65.00 - 73.50 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

Our latest full technical report of WDC contains the most current technical analsysis.

Why is NASDAQ:WDC a setup?

Besides the Technical Rating, ChartMill also assign a Setup Rating to every stock. This setup score also ranges from 0 to 10 and determines to which extend the stock is consolidating. This is achieved by evaluating multiple short term technical indicators. NASDAQ:WDC currently has a 8 as setup rating:

Besides having an excellent technical rating, WDC also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 70.46. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 67.82, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for WDC in the last couple of days, which is a good sign.

Why NASDAQ:WDC may be interesting for high growth investors.

• The quarterly earnings of WESTERN DIGITAL CORP have shown a 201.0% increase compared to the previous quarter, as revealed in the recent financial report. This growth signifies positive momentum in the company's financials, pointing towards a promising upward trend
• The q2q revenue growth of 48.91% of WESTERN DIGITAL CORP highlights the company's ability to generate incremental revenue and suggests positive market demand for its products or services.
• The 1-year revenue growth of WESTERN DIGITAL CORP (50.88%) has been strong, reflecting the company's ability to generate consistent sales growth. This growth suggests the company's ability to meet customer needs and expand its market share.
• The quarterly earnings of WESTERN DIGITAL CORP have shown a 201.0% increase compared to the previous quarter, as revealed in the recent financial report. This growth signifies positive momentum in the company's financials, pointing towards a promising upward trend
• WESTERN DIGITAL CORP shows accelerating EPS growth: when comparing the current Q2Q growth of 201.0% to the previous year Q2Q growth of -980.0%, we see the growth rate improving.
• With positive growth in its operating margin over the past year, WESTERN DIGITAL CORP showcases its ability to improve profitability through effective cost control and operational efficiency. This growth underscores the company's commitment to enhancing its financial performance.
• With a Debt-to-Equity ratio at 0.48, WESTERN DIGITAL CORP showcases its prudent financial management. The company's balanced approach between debt and equity reflects its commitment to maintaining a stable capital structure.
• WESTERN DIGITAL CORP has consistently exceeded EPS estimates in the last 4 quarters, demonstrating its ability to outperform market expectations. This trend highlights the company's strong financial performance and its potential for future growth.
• WESTERN DIGITAL CORP has maintained a healthy Relative Strength (RS) over the analyzed period, with a current 83.61 rating. This demonstrates the stock's ability to outperform its peers and indicates its competitive positioning. WESTERN DIGITAL CORP is well-positioned for potential price growth opportunities.

More high growth momentum breakout stocks can be found in our High Growth Momentum Breakout screen.

Keep in mind

This article should in no way be interpreted as advice. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.