WDC 2.66%  Western Digital finally starting to show some acceleration, and today's +7.8% gains make this the 3rd best performer of the SPX behind NTAP and COO. As can be seen, its lengthy downtrend was exceeded last month on the breakout above $53.25 and following just brief consolidation, this has begun to trend back higher sharply. Today's surge on ~37million shares should constitute the highest volume of the week as WDC has hit new 52-week highs on a big increase in volume of the $60 call options. This represents the biggest jump for this stock in four months and likely can lead WDC back to test prior peaks from 2021 which showed a top just below $77. Overall, stocks like WDC which remain well off all-time highs but have just hit new 52-week highs on heavy volume and improved momentum are attractive technically, and as discussed in last month's UPTICKS report, a breakout above a meaningful downtrend can sometimes prove to be a signal for upward mean reversion as momentum starts to kick into gear. Overall, WDC should test 2021 peaks in the high $70s before much consolidation, and it's right to consider this technically appealing on today's move, and that Friday's surge can lead to further upside follow-through.