Seagate Technology (STX) is a powerhouse in the data storage sector – and in the stock market. Its recent surge higher will likely continue based on the extraordinary relative strength it’s displaying. Look in the top pane and you can see how well this stock has moved versus the market (which has also been lights-out terrific).
Money flow is strengthening again after pulldown in early January. Volume trends are positive, and price action is bullish.
Since September this stock has had an impressive run, making higher highs and higher lows along the way. I think this stock will test Monday’s breakout before another move up.
Seagate Technology (NYSE: STX) Video Chart Analysis
Take a deeper dive into the chart action on Seagate Technology NYSE: STX and learn how to read the technicals. Get Bob Lang’s full analysis as he marks up our chart of the week.
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About Seagate Technology
Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. The company manufactures and distributes hard disk drives, solid state drives and their related controllers, solid state hybrid drives, and storage subsystems. Its products are used in enterprise servers and storage systems applications; client compute applications, primarily for desktop and mobile computing; and client non-compute applications, including various end user devices, such as portable external storage systems, surveillance systems, network-attached storage, digital video recorders, and gaming consoles. The company offers external backup storage solutions under the Backup Plus and Expansion product lines, as well as under the Maxtor and LaCie brand names available in capacities up to 120 terabytes. It sells its products primarily to original equipment manufacturers, distributors, and retailers. Seagate Technology plc was founded in 1979 and is headquartered in Dublin, Ireland.
