Hopeful Golden Cross Forms On Western Digital's Chart
Portfolio Pulse from Benzinga Insights
A 'golden cross' has formed on the chart of Western Digital (NASDAQ:WDC), which could be bullish for the stock. This occurs when the 50-day moving average crosses above the 200-day moving average, indicating a potential change in long-term trend. However, seasoned investors use this as a signal to start considering long positions based on other factors, such as price levels and company fundamentals.
June 28, 2023 | 2:48 pm
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The formation of a 'golden cross' on Western Digital's chart could indicate a bullish trend for the stock. However, other factors such as price levels and company fundamentals should also be considered.
The 'golden cross' is a technical indicator that can signal a bullish trend. However, it's not a guarantee of future performance and should be used in conjunction with other indicators and analysis. Given that Western Digital's earnings have been improving, this could potentially support a bullish trend.
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