Is $WDC About to Break $296 After a 7.4% Surge？

$Western Digital(WDC)$

Western Digital Corp.(WDC) Surged +7.40%: Strong Momentum Tests All-Time High, $296.5 Target in Sight

Latest Close Data

Closed at $290.24 on Feb 3, 2026, up +7.40% (+$20.01). This places the stock just 2.1% below its 52-week/All-Time High of $296.50.

Core Market Drivers

The strong uptrend is supported by positive sector rotation into tech and semiconductors, coupled with robust institutional capital inflows observed over the past week.
The stock successfully broke above its previous resistance level, confirming bullish sentiment.

Technical Analysis

Volume was solid at 15.37M shares.

The MACD (DIF: 23.97, DEA: 20.23, MACD: 7.48) shows a strengthening bullish crossover and expanding histogram, indicating accelerating upward momentum.
The RSI(6) at 72.9 is in bullish territory but approaching overbought conditions, suggesting potential for near-term consolidation before further gains.

Key Price Levels

Immediate Pivot/Support: $278.04 (Previous Resistance, now support).
Primary Support: $271.70 (Today's low).
Strong Resistance: $296.50 (52-Week/All-Time High). A confirmed break above this level could open the path to new highs.

Valuation Perspective

Forward P/E stands at 31.17, significantly above its historical average of -6.67 and the +1 Std. Dev. of 25.40, indicating the market is pricing in high future growth expectations. P/S TTM is 9.17.

Analyst Targets

23 analysts cover WDC with an average price target of $276.18. Sentiment is strongly bullish, with 5 Strong Buy, 18 Buy, and 5 Hold ratings.

Weekly Outlook

Expect consolidation near the $290-$296 range as the stock digests recent gains.

A decisive break above $296.5 could target the $305-$310 zone. Failure to hold $278 may lead to a pullback toward the $270 support.

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