Hubert Senters here.
Let’s take a look at trade this not that where we compare two equities that are in similar industries and we figure out which one looks technically better or two are on a chart. So we’re going to do Western Digital which just think hard drive manufacturers. Each one of them do a slightly different thing, that’s the main gist.
So Western Digital versus STX, Seagate, so right off and the bat I would just go to Seagate. Let me walk you through why, so WDC here, the ADX has spent a lot of time on the daily in the red zone which mean it’s non-trending.
It also looks like it’s got a traffic jam here doing the sideways shuffle a lot. Look at a weekly real quick here on a weekly it looks OK on a weekly, it does have a little bit of overhead resistance here that it’s going have to deal with, you know another $10 points higher.
But you can see even on the weekly, it’s non-trending but you can see it’s done a lot of consolidation here. So now let’s do STX, STX also has the same overhead resistance about $10 points higher. It has not done the sideways mumbo jumbo as much as Western Digital has. And then also on the daily on STX, it just looks a lot stronger so I would go with STX.
Now, how do you pull the trigger on that one? You go long now, stop would be in the area of $55.91 and your overall target would be back when we were talking about that weekly, it would be around about $66 to 68 dollars.
Good luck. Hope it helps and I’ll see you on the next video.
Hubert.
