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Hardware Storage Leader Builds Bull Flag Near Highs

by | Jul 8, 2024

Western Digital (WDC) shares of the storage leader continue to trend well and now forming a bull flag below the 80 level after a solid test and bounce from the rising 55 day MA at 74 last week. Monday closed above monthly value area of 78 so likely can see follow through to new highs now into 82.25 where an untested VPOC sits and eventually the stock likely wants to tag the 85 level which is a high volume POC from back in 2018. WDC has seen a ton of bull flow persist including size August $80 calls in open interest with over 14k holding as well as recent buys of 4000 October $95 calls at $1.43.

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