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
Note
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
Note
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
Keep your long term vision!
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Keep your long term vision!
Free: Join our "Elite Trading" community👇🏻
discord.gg/jgdrYXwqyD
Free: Join our "Elite Trading" community👇🏻
discord.gg/jgdrYXwqyD
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.