The Bullseye Now Turns To Western Digital Corporation (WDC), Eaton Vance Corp. (EV)

A look at WDC technical analysis shows that its 14-day Relative Strength Index (RSI) is in a neutral zone after reaching 52.51 point. Its trading volume has lost -1514000 shares compared to readings over the past three months as it recently exchanged 5036000 shares. This means there is reduced activity from short-term traders as per session, its average trading volume is 6550000 shares, and this is 0.77 times the normal volume.

Western Digital Corporation (NASDAQ:WDC) dipped by -26.08% over the past three months which led to its overall six-month decrease to stand at -49.23%. The equity price rose 7.72% this week, a trend that has led to both investors and traders taking note of the stock. A look at its monthly performance shows that its shares have recorded a -3.77% fall over the past 30 days. Over the past 12 months the stock has embarked on a drop that has seen it decline -50.53% and is now up by 8.28% since start of this year.

The shares of Western Digital Corporation dropped by -62.57% or -$66.93 from its last recorded high of $106.96 which it attained on March 16 to close at $40.03 per share. Over the past 52 weeks, the shares of Western Digital Corporation has been trading as low as $33.83 before witnessing a massive surge by 18.33% or $6.2. This price movement has led to the WDC stock receiving more attention and has become one to watch out for. It jumped by 0.55% on Sunday and this got the market excited. The stock’s beta now stands at 1.33 and when compared to its 200-day moving average and its 50-day moving average, WDC price stands -38.91% below and -5.64% below respectively. Its average daily volatility for this week is 5.33% which is more than the 5.26% recorded over the past month.

Experts from research firms are bullish about the near-term performance of Western Digital Corporation (WDC) with most of them predicting a $64.2 price target on a short-term (12 months) basis. The average price target by the analysts will see a 60.38% rise in the stock and would lead to WDC’s market cap to surge to $18.75B. The stock has been rated an average 2.4, which roughly stands towards the bearish end of the spectrum. Reuters looked into the 30 analysts that track Western Digital Corporation (NASDAQ:WDC) and find out that 19 of them rated it as a Hold. 11 of the 11 analysts rated it as a Buy or a Strong Buy while 0 advised investors to desist from buying the stock or sell it if they already possess it.

The price of Eaton Vance Corp. (NYSE:EV) currently stands at $36.2 after it went down by $-0.61 or -1.66% and has found a strong support at $35.5 a share. If the EV price drops below that critical support, then it would lead to a bearish trend. In the short-term, a dip below the $34.81 mark would also be bad for the stock as it means that the stock would plunge by 3.84% from its current position. However, if the stock price is able to trade above the resistance point around $36.58, then it could likely surge higher to try and break the upward resistance which stands at $36.97 a share. Its average daily volatility over the past one month stands at 3.03%. The stock has plunged by 2.79% from its 52-weeks high of $35.19 which it reached on Jan. 29, 2018. In general, it is 10.83% above its 52-weeks lowest point which stands at $32.28 and this setback was observed on Dec. 26, 2018.

Analysts have predicted a price target for Eaton Vance Corp. (EV) for 1 year and it stands at an average $41.78/share. This means that it would likely increase by 15.41% from its current position. The current price of the stock has been moving between $35.19 and $36.27. Some brokerage firms have a lower target for the stock than the average, with one of them setting a price target as low as $38. On the other hand, one analyst is super bullish about the price, setting a target as high as $51.

The EV stock Stochastic Oscillator (%D) is at 91.74%, which means that it is currently overbought and its prices could dip very soon. The shares P/S ratio stands at 2.53 which compares to the 52.72 recorded by the industry or the 10.24 by the wider sector. The stock currently has an estimated price-earnings (P/E) multiple of 10.75, which is lower than the 10.94 multiple of 12-month price-earnings (P/E). The company’s earnings have gone up, with a quarterly increase rate of 16.7% over the past five years.

Analysts view Eaton Vance Corp. (NYSE:EV) as a Hold, with 2.9 consensus rating. Reuters surveyed 9 analysts that follow EV and found that 7 of those analysts rated the stock as a Hold. The remaining 2 were divided, with 2 analyst rating it as a Buy or a Strong Buy while 0 analysts advised investors to desist from buying Eaton Vance Corp. (EV) shares or sell it if they already own it.