TradingKey – Western Digital (NASDAQ: WDC) currently trades at $569.87, holding back from the triple-top resistance line in the downward slope of the channel on the 4-hour price chart. The price continues to be bearish as red candles reflect the selling pressure with the RSI at neutral levels of 48.36. The stock is currently down by approximately 28% from its 52-week high of $799.87, as the price plunged from an all-time high of $780 (on June 22) to $539 (on July 2) and subsequently recovered to the present levels. Despite the decline, analysts are optimistic about WDC stock. Melius Research initiated a new coverage on WDC shares with a Buy rating and a $1,050 target. 

Analysts at Cantor Fitzgerald have revised their targets on WDC…