Hoping For A Higher Take: Western Digital Corporation (WDC), SRC Energy Inc. (SRCI)

Western Digital Corporation (NASDAQ:WDC) has its shares advanced by 1.01% or $-0.62 from its all-time high of $61.33, with WDC attaining that price back on September 05, 2019. The surge in the price of the shares saw it stand at $61.95 per share. WDC has been trading at a low of $33.83 over the past one year but it surged by 83.12% or $28.12 to reach the $61.95 mark. Following the massive rise in stock price, WDC received more attention from investors and analysts. On Thursday, the stock plunged by 4.42%, which caused investors and analysts to excite about it. Following the plunge in price, the WDC beta stands at 1.87, implying that its volatility level has gone up by -0.87 ahead of the general market. A look at the stock’s 200-day moving average shows that it is 32.17% above while its 50-day moving average shows that it is currently 15.96% above. Compared to 3.36% average daily volatility of past month, the stock’s average volatility for this week has decreased by -0.0800000000000001 as the volatility level currently stands at 3.28%.

Over the past seven days, the stock has witnessed a price surge by 15.92%. This massive rise in stock price has caught the attention of both investors and market traders. The stock has performed excellently over the past 52 weeks, rising by 2.84% during that time frame and is now up by 67.57% since this point this year. WDC has surged by 15.62% over the past 30 days, with its equity price gaining% of its value over the past ninety days. These figures add up to see the stock record a growth of 31.84% over the past six months.

The stock’s technical analysis reveals that its 14-day Relative Strength Index (RSI) is currently in a neutral position as it was able to attain 68.9 points. The trading volume now standing at 5815959 shares. The decrease of -104041 shares in trading volume shows that traders and investors have shown less interest in the stock over the past few weeks. During that trading session, the average trading volume of WDC was 5920000 shares, which is more than 0.98 times higher than its usual trading volume.

SRC Energy Inc. has seen its stock (NYSE:SRCI) surge by $0.06 or 1.21% to currently trade at $5.02. This rise in the price of the stock has seen it establish a strong support at $4.92 a share. If the stock price is to drop below that support level, then it would be followed by a bearish trend. A slip below $4.83 would be bad for SRCI as it would mean that the stock has lost 3.78% of its value. The stock going in the opposite direction and breaking past the resistance point to reach $5.1 would see it surge even higher. SRCI would attempt to surge past the upward resistance point which is set at $5.19 a share. SRCI has an average volatility of 6.91% over the past 30 days, while it has gained 36.85% of its value compared to its 52-weeks low point which stands at $3.17 on Aug 01, 2019. In the same breath, SRCI has lost 2.19% compared to its 52-weeks high point which currently stands at $4.91 a share reached on Sep 06, 2018.

Analysts have set a 1-year price target for this stock, with most of them expecting it to reach $6.92/share over the next 12 months. If that happens, then SRCI would witness a 37.85% rise from its current price. The price of the stock has been moving between $4.91 and $5.09. Not all analysts believe it would hit that target though, as some of them expect it to trade lower, as low as $4.76 per share. In the same breath, one analyst believes that the stock is set to soar even higher than expected, as the price target was set at $10.

The stock is currently overbought as its Stochastic Oscillator (%D) is at 82.73%, which implies that a dip in price could be experienced soon. Its shares P/S ratio is below the industry average and below the wider market, as SRCI’s P/S ratio currently stands at 1.77. The stock’s estimated price-earnings (P/E) multiple is 5.58 which is also above the 12-month price-earnings (P/E) which stands at 4.91. SRC Energy Inc. has experienced a rise in its earnings, recording an increase rate of 23.6% in each quarter over the past five years.