Technician
Short

Micron: Probably Time for a Serious Correction

NASDAQ:MU   MICRON TECHNOLOGY INC
563 3 10
Micron has completed a topping formation, hinting a potential deeper bearish correction.

-The price has completed a minor head and shoulders pattern, by breaking 31.80 horizontal support level ,
- In addition to breaking the 50-days SMA .
-Strong volume levels on breakout
-The price attempted to regain the upside, but today's action             was bearish , as price failed to sustain the rebound, forming a shooting star candle, and indicating that the rebound is probably a mere throwback(retest).

I am expecting a move initially to 28.00 then towards the main rising trend line around 25.50. I would consider this scenario not valid if price breaks and hold back above 33.00.

Good luck mates, come join me at https://twitter.com/thefxchannel
also at my Facebook             page http://www.thefxchannel.com
My best regards,
Technician
We are finally LIVE https://thefxchannel.com
I am looking to short anywhere around 31.50.
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That looks promising. Have you or will you act on this? Plan to enter?
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2use metaldome
Plan to sell until further up trend confirmed
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