If you believe this will reverse them MU may be your horse.
1. The price has retreated nearly .382 % from the Aug 2020 to April 2021 range. 2. There is a Harmonic Butterfly setup forming as well as an ABCD pattern. 3. Margins should expand for the company due to the under supplied DRAM market 4 MU's earning period ends this month and they report at the end of June. 5. Harmonic Butterfly patterns may extend as much as1.618% which is marked as the bottom of the reversal zone.
I would not be in a hurry to jump on this trade,
Pay attention to the broad markets especially the TECH sector sentiment.
Let it get a head of stream which is why my entry is above current levels
AS always D(o)Y(our)O(wn)D(ue)D(iligence)
S.
Comment
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Quite weak this morning but recovered towards the end of the day
I have been away from the market for the last day so I don't have a feel for it. That said the chart looks ok as long as the broader tech market holds in. Here's an updated chart... I will feel better once the green lines are taken out. Never position more than you can afford to lose.