Micron Technology - Patience and price action!

27 thg 6

MU is literally creating so clear and repetitive market structure, this is textbook.



Bullish break and retest, cycle and correction. Micron Technology has been repeating this price action for over a decade and is about to enter another correction phase. If you don't want to trade this anticipated correction, you can instead wait for another retest of previous resistance, bullish confirmation and a rejection. Following the cycles, a bullish move there is quite likely.

Levels to watch: $140, $95

Keep your long term vision,
Philip - BasicTrading

5 thg 7

Ghi chú

Quick update on MicronTechnology:

If the broad stock market hits a new all time high but one individual stock does not, this is always a sign of weakness. Micron Technology is still strugglingto head higher after the recent retest of resistance. Maybe the bearish scenario is still valid?

Levels to watch: $145

26 thg 7

Ghi chú

Quick update on Micron Technology:

Here we go: Micron Technology down -30% in just two months and this move was sooo obvious. Hopefully you managed to capitalize as well. Now the next support is the previous all time high - so we still have a move of about -15% lower.

Levels to watch: $95