Chart of the Day: WDC Cup & Handle
Description
Rachel Dashiell looks at the chart of Western Digital (WDC) after earnings. She points out a "cup and handle" pattern developing over the last 20 days, before turning into a "pennant pattern" after its earnings move which could suggest further bullish upside. Zooming out to a longer, 1-year chart, Rachel does highlight a bearish divergence taking place in its RSI momentum study which is more of a function of the stock's leveling off after a 400% run-up from April lows.
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