Western Digital Corporation is gearing up to reveal its Q3 earnings, creating a buzz among investors waiting to see how the company performs during this critical time. The company's strategic decision to separate its HDD and Flash Memory business into two independent entities showcases a significant change in its operations. This move has caught the attention of analysts and stakeholders who are closely watching Western Digital's actions to determine its future growth potential.

With the memory and storage sector recovering after a challenging period, Western Digital is in a prime position to capitalize on new opportunities. The company's recent surge from a low of $35.64 to a high of $76.90 after the Q1 earnings in October 2023, indicates a strong uptrend. Chart analysis shows that the $63 level has become a key support level, with the stock trading above it, signaling a positive outlook.

While recent short-term indicators have dipped from $75 to $67, Western Digital remains above its bullish trendline since October 2023. This suggests continued upward momentum, potentially leading to a retest of the $75 high. Traders keeping an eye on the $63 level after earnings might consider a breach below it as a signal to go short, with potential downside targets at $52 and $46.8 if support breaks.