On Friday, Western Digital reached a key performance benchmark, with its Relative Strength (RS) Rating moving into the 80-plus percentile with an improvement to 85, a rise from 80 the day before.
Risk Management In The Stock Market: How Much Money To Invest Now
IBD's unique RS Rating measures technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the last 52 weeks matches up against the rest of the market.
History shows that the best-performing stocks often have an RS Rating of over 80 in the early stages of their moves.
Western Digital is building a with a 56.75 buy point. See if the stock can clear the breakout price in volume at least 40% higher than normal.
Western Digital posted 0% EPS growth last quarter, while sales growth came in at 31%.
The company holds the No. 2 rank among its peers in the Computer Software-Storage industry group. Seagate Technology is the No. 1-ranked stock within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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