MU is coming close to it's previous primary up trend.
In my opinion the direction of MU will reverse back on a bullish trend and will eventually break through the resistance line on the chart.
You can open a small LONG position now but I like to wait for the better trade setups.
A good price to buy is 42.50 with SL at 39. My target for now is above the resistance line.
In my opinion the direction of MU will reverse back on a bullish trend and will eventually break through the resistance line on the chart.
You can open a small LONG position now but I like to wait for the better trade setups.
A good price to buy is 42.50 with SL at 39. My target for now is above the resistance line.
Comment:
Caution, the company is going to release its earnings report in 2 days, there will be a big move after the report. My predication is on the long side however please manage your risks accordingly.