Seagate Technologies has been in a correction since mid-December, but today it made a bullish break across a trend line that has held for about 4 weeks. Seagate is one of the better values in the technology space, with a dividend payout of over 4.5% and about 11% upside to its median earnings-day valuation of the last 3 years. It's a highly innovative company, averaging 26 patents per year per billion in market cap.
Sentiment for Seagate has been somewhat negative, with analysts and technicals neutral and options interest mostly on the put side. However, today's trend line break signals that sentiment is beginning to improve. We may see one or two more dips before the stock moves decisively higher, but I do think an upward move will be coming in the next few weeks.