novice2
Short

Up 30% in 5 days - Time for Pull Back?

NASDAQ:MU   MICRON TECHNOLOGY INC
43 0 0
Up 30% in five days on heavy volume ; hit resistance at .764 Fibonacci.

Shortening of thrust of candlesticks towards top of trend. Shooting star candlestick on Oct 8 at the high, confirmed next day by a loss of -3% Oct 9.

Left behind two gaps. Watching for it to retrace to $16.22 (.382), and possibly to $15.00 to fill the lower gap.

Weak earnings report last Thursday, but appears as if semi sector is being pumped. Bounce off .618 Fibonacci level today could hint that previous resistance has become the new support? If so, I will look for resistance at $20.58.

Novice analysis.
Trade active: one gap filled, one to go
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