Seagate Technology Rises 3.41% To $176.32 With Bullish Technical Momentum

Seagate Technology (STX) shares gained 3.41% to close at $176.32 on September 3, 2025, marking the second consecutive day of gains for a cumulative two-day increase of 5.33%.
Candlestick Theory
The most recent session formed a solid bullish candle, closing near its high ($176.49), confirming strength after the prior session's bullish engulfing pattern (September 2). This pattern emerged near the psychological support of $170, established during the August 26-29 consolidation. Immediate resistance is now being tested at the $176.49 high (September 3), with a break potentially targeting $180. Key support lies at $170 (recent swing low and consolidation zone), followed by $164 (August 25 low and 50-day MA confluence).
Moving Average Theory
Seagate's price structure remains strongly bullish, trading significantly above all key moving averages. The 50-day MA (approximately 150.72) recently crossed above the 200-day MA (approximately 117.68), confirming a long-term "golden cross." The 100-day MA (around 135.30) provides intermediate support. The consistent order of the 50-day > 100-day > 200-day MAs reflects a robust upward trend across short, medium, and long-term timeframes. The $170 support zone aligns closely with the rising 50-day MA.
MACD & KDJ Indicators
The MACD (12,26,9) has recently crossed above its signal line into positive territory, generating a fresh bullish signal as momentum accelerates. Concurrently, the KDJ oscillator shows the %K line (73) tracking above the %D line (68) and rising, though approaching overbought territory (>80). This suggests strong near-term momentum but carries increased risk of a short-term pullback as stochastic becomes overextended. No significant bearish divergence is yet evident.
Bollinger Bands
Price action is pressing against the upper Bollinger Band (20-period, 2 SD, approx. $174), indicating strong upside momentum and elevated volatility. The bands have expanded noticeably during the recent two-day surge, confirming the strength of the move. Historically, such expansions can precede brief consolidation phases, but the close near the upper band signals continuation potential. A move back towards the middle band ($160) would indicate cooling momentum.
Volume-Price Relationship
The recent two-day rally was supported by increasing volume (3.79 million shares vs. 3.18 million prior session), validating the bullish breakout. Notably, the large down-day on August 29 (2.89% loss) occurred on lower volume (2.80 million) compared to the preceding up-day on August 28 (3.07% gain, 3.08 million volume), suggesting distribution was limited. High volume on key up-days (e.g., July 31, June 9) has consistently confirmed major resistance breaks.
Relative Strength Index (RSI)
The 14-day RSI reading of approximately 64.52 is within the neutral range, leaning towards bullish territory but not yet overbought (>70). This indicates room for further upside before significant technical exhaustion emerges. The RSI has trended higher in tandem with the price, showing no bearish divergence. Its current position supports the prevailing uptrend but warrants monitoring as it approaches the 70 threshold where caution becomes prudent.
Fibonacci Retracement
Using the significant trough on April 16, 2024 (low of $72.62) and the recent peak of $176.49 (Sept 3, 2025), key Fibonacci levels are derived: 23.6% ($152.84), 38.2% ($138.82), and 50% ($124.55). The price is currently trading well above all retracement levels, confirming the primary uptrend. The 38.2% level ($138.82) aligns closely with the 100-day moving average and served as a major buying zone during the June 2025 consolidation. The 23.6% level ($152.84) coincides with the 50-day MA and recent August lows, marking critical support. A pullback to this zone would likely attract significant technical buying interest.
Confluence & Outlook
Multiple indicators signal bullish strength for Seagate Technology. Confluence exists around the $150-$155 support zone, backed by the 50-day MA, the 23.6% Fibonacci level, and the psychological $150 level. The MACD crossover, high volume on advances, absence of RSI divergence, and golden cross formation strongly support the uptrend. While KDJ approaching overbought levels and price touching the upper Bollinger Band suggest the potential for near-term consolidation or minor pullback, the technical structure favors continuation. Key resistance beyond the recent $176.49 high lies at the psychological $180 level. Holding above the $170 support is crucial for maintaining short-term bullish momentum.