Harry Boxer has posted his Charts of the Day video on Seagate Technology plc (STX) at TheTechTrader site noting: Seagate Technology plc (STX) broke down on Tuesday, and got whacked 2.88, or 7%, to 39.51, on 9 million shares traded. It broke the entire pattern. I’m looking for a test of maybe 35-6, and below that 32-3.
Great movement today.
STX is going down because it still trades in tandem with Western Digital. The weakness in WDC has nothing to do with the disk drive market and is a result of its legal issues with Toshiba. At some point, the problems at WDC will be a benefit to STX and you will see some divergence in their stock prices.
It's unfortunate. It looks like money's moving from STX to WDC (anecdotally). I wish STX management would rely on more than just sustaining dividend and cost cutting as a company strategy. While I buy the CEOs argument that Cloud migration is still favorable to larger, faster HDDs, there will be a lot of skepticism in the market if the top line stagnates. Unless the storage revenue from Cloud significantly outpaces loss from the PC segment, STX will have a messaging problem.
Khan of Khans
what a horrible stock!, I bought 500 shares never made it past my buying price, wild swings (to the downside)..hopefully there will better days... losing quiete a bit on a measly 500 shares, imagine if I bought 2000..like I wanted for the dividend
So far I am in the green and still think this will hit $21.5 I will not go back long till the trend is proven.
Angel drop Money and Gold on 27th, 28th and 29th.....
X axis : Stocks Price Correlation Coefficient Y axis : Quantity of stocks Sep-2016 1,000 Day Parameter 2,830 NASDAQ Stocks Price Analysis This stock mode of correlation coefficient is 0.4 In other words, the correlation coefficient of the other stock
I am still fully bearish on STX purchased two September puts and will by one more when close below forty. Today still below 30 moving average. I still think after next week there will be a steady price erosion at least to low thirties maybe even to low twenties.
Have been watching STX for quite some time. I like the dividend, but this stock has some wild swings. I think I will have to pass on this one. I think I will just stick with RDS-B, great dividend and more stable.
ex-dividend date is Jun 19th. Hopefully, shorts will have to cover before then - else, they are on the hook for the divident payout, which is substantial at ~ 6%.
I'm not a fan of weekly options but bought some calls during the nosedive Friday. Hopefully they can stir the pot during the conference today so I don't chew and swallow 'em.
The scenarios are quite interesting at current levels for STX. Ive been struggling with this stock lately. Some of my other trades have been from awesome_stock_s which are working out pretty well.
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What a pity. At a time of Nasdaq momentum, this thing is headed in the wrong direction. Looks like the long-term upward trend is breaking down...
I wonder if Seagate is poised to pick up the pieces if WDC and Toshiba go to war over the chips...
It's interesting that Motley Fool comes out with a recommendation to by STX as a good income stock to hold for retirement, and then the next thing you know, the stock has dropped almost 3% in price... today... go figure... must be some other factors in play here...