TradingKey – On August 12, Eastern Time, Western Digital (WDC) maintained a volatile range after a sharp sell-off, rebounding 1.4% in overnight trading to temporarily stand at $443.80. Last Thursday (August 6), Western Digital plummeted 13%, briefly approaching the $400 mark, a maximum drawdown of nearly 50% from its all-time high, and setting a new low since May this year.

Western Digital stock price chart, Source: TradingView

On June 18, Western Digital’s stock price surged toward the $800 mark, peaking at $799.87 to hit an all-time high. Since then, the stock has continued to slide to new lows while posting lower highs on rebounds, signaling that it has entered a downward channel overall, with bears holding absolute control.