WDC is at a technical turning point; speaker leans toward an upward breakout targeting $550.63.

Next up, guys, is WDC stock. WDC's stock experienced a bit of panic last week when Toshiba, one of its major competitors, came out and said it would double its production of hard drives.

This means producing hard drives for computers for memory. Guys, that was a big hit,

but look where the price went, below $400, and it broke the long- term uptrend line for just one day, but look how the price saved itself today with an upward gap above that line.

But if you notice , we also have a ceiling for price movement, from top to bottom, with this downward trend line that has stopped every attempt to rise since it was created here in July of this year.

So, WDC stock is literally at a turning point. We see that the bulls supported the price at the 400 level. Now we have the bears who are likely to sell the price from here, and this distance, this range, is starting to run out. So, we are at a turning point.

If there is an upward breakout, which I believe may happen, we are looking at the $550.63 level for WDC stock.

But beware, bulls. This downtrend line has already been broken once . That value will be $427.41 tomorrow. I am more inclined to believe that he will achieve a breakthrough. We will see what the coming days will reveal, but it is certainly at a turning point, and it is supposed to make a good move considering this sideways consolidation to downward trend that has occurred since the summer of this year.