Western Digital (WDC) Offering Possible 26.9% Return Over the Next 7 Calendar Days

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Western Digital’s most recent trend suggests a bearish bias. One trading opportunity on Western Digital is a Bear Call Spread using a strike $91.00 short call and a strike $96.00 long call offers a potential 26.9% return on risk over the next 7 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $91.00 by expiration. The full premium credit of $1.06 would be kept by the premium seller. The risk of $3.94 would be incurred if the stock rose above the $96.00 long call strike price.

The 5-day moving average is moving down which suggests that the short-term momentum for Western Digital is bearish and the probability of a decline in share price is higher if the stock starts trending.

The 20-day moving average is moving down which suggests that the medium-term momentum for Western Digital is bearish.

The RSI indicator is at 28.66 level which suggests that the stock is neither overbought nor oversold at this time.

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