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
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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
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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
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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
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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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