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Western Digital

This is a syndicated repost published with the permission of Slope of Hope. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

Good morning, everyone. While it seems the world is focused on megacaps like AMZN and INTC, I wanted to share a tech short (one among the 70 positions I have) which few people notice: Western Digital. Here’s the long-term chart:

As you can see, WDC has a knack for creating clean topping patterns and then falling hard. I find this particular sort intriguing due to the major trendline break. Looking closer, you can see that, following this clean trendline failure, WDC spent months crawling back to its now-broken trendline. My view is that we fall from here.

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