Seagate Technology (NASDAQ:STX) shares are trading lower on Tuesday amid a broad hardware and semiconductor selloff. The Nasdaq is down 1.71%, the S&P 500 has slipped 0.38%, and technology is the market’s worst-performing sector, falling 2.8%.
The weakness follows Samsung Electronics‘ (OTC:SSNLF) latest quarterly update. Despite reporting a sharp profit increase and issuing a strong outlook, Samsung shares fell on a “sell-the-news” reaction that spilled over into the broader tech sector.
Seagate’s decline mirrors weakness across storage and semiconductor names, with peer SanDisk Corporation also trading lower. The pullback suggests investors are taking profits after a strong multi-month rally in technology stocks.
Seagate Stock: Key Levels To Watch
From a trend perspective, Seagate is still in a strong longer-term uptrend, up 449.50% over the past 12 months and trading well above its 100-day SMA ($642.43) and 200-day SMA ($463.11). The near-term picture is softer, though, with the stock trading 14% below its 20-day SMA ($946.40) and 4.3% below its 50-day SMA ($850.52), which often signals a cooling phase after a strong run.
Even with the 20-day SMA still above the 50-day SMA (bullish) and the 50-day above the 200-day (bullish long-term), the current pullback is testing whether the uptrend can hold without immediate momentum support.
- Key Resistance: $841.50 — a nearby ceiling that lines up closely with the 50-day SMA/EMA area, where rebounds often stall if sellers stay active
- Key Support: $802 — a nearby floor that’s close enough to matter quickly if the selloff extends, making it a key "line in the sand" for dip-buyers
STX Stock Price Activity: Seagate Technology Hldgs shares were down 5.90% at $817.00 at the time of publication on Tuesday, according to Benzinga Pro data.
Photo by Sundry Photography via Shutterstock
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