WDC Is Up 900%+ Over 12 Months, But Its Chart Hints at CoolingWestern Digital CorporationBATS:WDCmoomooMemory chips have been in demand to the point of scarcity, driving Western Digital WDC to record highs, up some 90% year to date and more than 900% over the past 12 months. But are the storage-solutions company's stock chart and fundamental analysis telling a different story? Let's check it out: Western Digital's Fundamental Analysis Industry leaders like Micron Technology MU and Sandisk SNDK (a former Western Digital unit spun off in 2025) have been trending thanks to the advent of artificial intelligence and date-center expansions. As for Western Digital, the firm will likely report fiscal Q3 results very late in April, with the Street currently looking for $2.35 in adjusted earnings per share on $3.25 billion of revenue. That would represent 72.8% growth from the $1.36 in adjusted EPS that the company reported for the year-ago period, while also totaling close to 41% in year-over-year sales growth. That kind of growth will have analysts watching closely for forward guidance, with the Street's current consensus for full year sales sitting at about $12.47 billion. And very interestingly, all 17 sell-side analysts that I know of who cover WDC have revised their earnings estimates higher for this quarter since the period began. Western Digital's Technical Analysis Now let's look at WDC's daily chart going back some 4-1/2 months and running through Thursday afternoon (April 2): Readers will see that this chart has been dominated by a rising-wedge pattern of bearish reversal (the orange-shaded area). The stock also recently fell below its 21-day Exponential Moving Average, or "EMA," marked with green line. It also pierced but did not break its 50-day Simple Moving Average, or "SMA," denoted by a blue line. Those are both generally bearish signs. Now, it's not at all uncommon for stocks to touch both the top and bottom of closing-wedge patterns three to four times prior to breaking out in either direction. For example, the stock survived its lower test of this pattern in late March. Meanwhile, Western Digital's Relative Strength Index (the gray line at the chart's top) has improved to where it's now better than neutral. Similarly, the stock's daily Moving Average Convergence Divergence indicator (the blue bars and black and gold lines at the chart's bottom) is starting to look better after recently taking a sudden downturn. The histogram of the stock's 9-day EMA (the blue bars) has been moving back back towards zero, while the 12-day EMA (the black line) is trying to cross back above the 26-day EMA (the gold line). All of that is potentially bullish. (Moomoo Technologies Inc. Markets Commentator Stephen "Sarge" Guilfoyle had no position in WDC at the time of writing this column.) This article discusses technical analysis, other approaches, including fundamental analysis, may offer very different views. The examples provided are for illustrative purposes only and are not intended to be reflective of the results you can expect to achieve. Specific security charts used are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. This content is also not a research report and is not intended to serve as the basis for any investment decision. The information contained in this article does not purport to be a complete description of the securities, markets, or developments referred to in this material. Moomoo and its affiliates make no representation or warranty as to the article's adequacy, completeness, accuracy or timeliness for any particular purpose of the above content. Furthermore, there is no guarantee that any statements, estimates, price targets, opinions or forecasts provided herein will prove to be correct. Moomoo is a financial information and trading app offered by Moomoo Technologies Inc. In the U.S., investment products and services on Moomoo are offered by Moomoo Financial Inc., Member FINRA/SIPC. TradingView is an independent third party not affiliated with Moomoo Financial Inc., Moomoo Technologies Inc., or its affiliates. Moomoo Financial Inc. and its affiliates do not endorse, represent or warrant the completeness and accuracy of the data and information available on the TradingView platform and are not responsible for any services provided by the third-party platform.