The Relative Strength (RS) Rating for Western Digital stock headed into a new percentile Tuesday, as it got a lift from 66 to 72.
When you're researching the best stocks to buy and watch, keep a close on eye on relative price strength.
This unique rating measures market leadership by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
Decades of market research shows that the best stocks often have an 80 or better RS Rating in the early stages of their moves. See if Western Digital stock can continue to rebound and clear that threshold.
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Is Western Digital Stock A Buy?
Western Digital stock broke out earlier, but has fallen back below the prior 41.47 entry from a cup with handle. If a stock you're tracking breaks past a buy point then declines 7% or more below the original entry price, it's considered a failed base. It's best to wait for the stock to form a new consolidation and breakout. Also understand that the latest pattern is a later-stage base, which makes it riskier to establish a new position or add shares to an existing one.
The data storage company showed 0% EPS growth last quarter. Revenue gains came in at -41%.
Western Digital stock holds the No. 6 rank among its peers in the Computer Software-Storage industry group. NetApp and SMART Global Holdings are also among the group's highest-rated stocks.
