SOURCE: Wall Street Active

February 21, 2013 08:00 ET

Today's Technical View on STX, SNDK and WDC

Note to Editors: The Following Is an Investment Opinion Being Issued by the WSA Financial Ltd.

LONDON--(Marketwire - Feb 21, 2013) - Equity markets fell sharply on Wednesday, with the S&P 500 posting its biggest one-day drop in 2013. All three benchmark indexes opened lower in yesterday's session as investors booked profit after the Dow Jones and the S&P 500 finished at multi-year highs in the previous trading session. . At the close of Wednesday's trading session, our research team took notice of the following stocks in the Data Storage Devices sector, Seagate Technology PLC (NASDAQ: STX), SanDisk Corp. (NASDAQ: SNDK) and Western Digital Corp. (NASDAQ: WDC). Wall Street Active research team has completed free research on STX, SNDK and WDC. As a leading provider of free in depth reports and timely market updates, we invite you to sign up now at

Seagate Technology's Shares Tumble
Shares of electronic data storage products provider Seagate Technology fell sharply on Wednesday, paring some of its gains for the year. The stock closed 4.92% lower at $32.50 on volume of 5.58 million. Despite the sharp decline, Seagate's shares are still up more than 6.8% for the year. Prior to the Wednesday's sell-off, the stock had been up more than 12% for the year. The company's shares fell below their 50-day moving average as a result of the sharp decline yesterday. This is a bearish signal. Recent volume activity and the MACD chart also confirm this bearish trend. Sign up today and get useful insight about STX for free at

SanDisk's Shares Also Drop
SanDisk's shares also tumbled in trading on Wednesday. The stock closed 3.08% lower at $50.06 on above average volume of 4.55 million. Prior to Wednesday's sharp decline, the company's shares had been hovering near their 52-week high. The stock currently has strong support at around $50.The next support level after $50 is at $49. Although the stock fell more than 3% in yesterday's session, it is still up more than 15% for the year. However, the MACD chart is now giving a bearish signal. The stock's MACD moved below the signal line yesterday. Free report on SNDK can be accessed by registering at

Western Digital Fell More Than 4%

Another major loser in the Data Storage Devices sector was Western Digital. Shares of the Irvine, California-based company fell 4.18% to finish the day at $46.54 on volume of 2.23 million. Year-to-date, the stock is still up more than 9.5%. Western Digital's shares fell below $48 support level yesterday. The next support level for the stock is at $46. Western Digital's shares are still trading well above their 50-day and 200-day moving averages. Register with Wall Street Active and download the research on WDC for free at

Disclaimer: WSA Financial is not a registered investment advisor, and nothing in this release is intended as a solicitation to buy or sell any security. Our pro-traders only aim is to educate investors based on their experience, and to share their knowhow.

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