Western Digital, a big player in data storage, has been steadily climbing higher all year long. It even tagged a new all-time high on Tuesday, May 30. This new action comes on the heels of robust earnings last month, when the stock pulled down to test a trend line. It now looks ready to reach the century mark (100).

In the chart below, look at the money flow in the bottom pane. It shows very strong buying interest since reversing in late March. The MACD is about to cross and confirm a strong buy signal, while the apex of the triangle on the price chart was resolved resoundingly to the bullish side. I like the strong turnover as well. When a stock hits new highs, buyers usually hesitate – but not in this case. Western Digital is looking at higher prices ahead, and if they end up purchasing Toshiba (they’ve offered $17 billion for it), the sky is the limit.

Western Digital (NYSE: WDC) Video Chart Analysis

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About Western Digital

Western Digital Corporation, together with its subsidiaries, develops, manufactures, and sells data storage devices and solutions worldwide. It offers performance hard disk drives (HDDs) that are used in enterprise servers, data analysis, and other enterprise applications; capacity HDDs and drive configurations for use in data storage systems and tiered storage models, as well as for use in storage of data for years; and enterprise solid state drives (SSDs), including NAND-flash SSDs and software solutions that are designed to enhance the performance in various enterprise workload environments. The company also provides InfiniFlash System, a system solution that offers petabyte scalable capacity with performance metrics; higher value data storage platforms and systems; datacenter software and systems; and HDDs and SSDs for desktop PCs, notebook PCs, gaming consoles, set top boxes, security surveillance systems, and other computing devices. In addition, it offers embedded NAND-flash storage products, including custom embedded solutions; and iNAND embedded flash products, such as multi-chip package solutions that combine NAND and mobile dynamic random-access memory in an integrated package for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as in automotive and connected home applications, and NAND-flash wafers.

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