Points of Interest
MU Long Signal 5/21/2023 @ $68.17 (or Monday 5/22/23 opening price)
Shortfall hinting at breakout direction
WRB 1st week of 2023 igniting volatility/trend confirming the rectangle pattern
Rectangle pattern appears to be a bottoming/basing formation, along with the market
Current WRB is breaking out with 2 daily closes above the resistance line confirming the breakout
$65 major level broken
Breaking all key MA’s, 20/8 rising
MACD crossing above 0, confirming upside momentum
RSI at 61, not in oversold territory and confirming underlying trend upward
Risk: 2 daily closes below $65 (or 1 weekly close)
Target is to unwind in between $80-$81
MU Long Signal 5/21/2023 @ $68.17 (or Monday 5/22/23 opening price)
Shortfall hinting at breakout direction
WRB 1st week of 2023 igniting volatility/trend confirming the rectangle pattern
Rectangle pattern appears to be a bottoming/basing formation, along with the market
Current WRB is breaking out with 2 daily closes above the resistance line confirming the breakout
$65 major level broken
Breaking all key MA’s, 20/8 rising
MACD crossing above 0, confirming upside momentum
RSI at 61, not in oversold territory and confirming underlying trend upward
Risk: 2 daily closes below $65 (or 1 weekly close)
Target is to unwind in between $80-$81