#Premarket Breakout and $AMD #Earnings Correlation

Micron Technology, Inc.NASDAQ

Description

⋅ Mar 6, 2018 1:29 PM

Technicals:
1. As of writing, price is trading premarket at 53.20, up 2.25%
2. All-time highs are at 53.28
3. Observations:
a. There was a double bottom reached at lower resistance (39.05)
b. Orange arrows show re-tests on the MA's. The 20 MA has been used as a primary pivot
4. The thick, orange line shows price of AMD. See note below for fundamentals connection

Fundamentals:
Semiconductor and related companies tend to correlate on healthy earnings calls. See link for related news from AMD: https://marketrealist.com/2018/02/amd-stock-attracts-attention-of-hedge-fund-managers

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For the complete technical analysis on this swing trading set-up, including full price extensions and bullish/bearish targets, click here: https://compoundtrading.com/swing-trading-periodical-contact

Trade active

⋅ Mar 7, 2018 1:47 PM

Upswing still proving itself out per comment above. Price has breached all-time highs as of current trade.