Mu has now confirmed a new down trend from last week. Possible articles and outside factors can include the down trend of bitcoin and the crypto currency market for this GPU manufacturer. Currently MU is closing above the 200 moving day average of 49.83. It is however closing under the 50 day moving average of 55.63 to me that is a possible indication that the stock is failing to continue to trend up. It is also closing under the 20 day and 10 moving averages.
Price points to look for this week using Fibonacci retracement will be
PIVOT- 51.45 above this will allow the price to swing UP to possible resistance points of
R1-51.8
R2-52.02
R3-52.38
R4-52.8
PIVOT- 51.45 below this will allow the price to swing DOWN to possible support points of
S1-51.09
S2-50.87
S3-50.52
S4-50.01
ADX- which is a measure of the trend is currently just above 25 ( above 25 indicates a strong trend UP or DOWN)
DMI+ is just over 13 ( this indicates a weak up trend or none at all)
DMI- is just above 30 ( this indicates a stronger down trend)
Please use your own DD to make purchases of stocks. I will look to see a continued down trend unless there are possible outside factors or news for MU.
Price points to look for this week using Fibonacci retracement will be
PIVOT- 51.45 above this will allow the price to swing UP to possible resistance points of
R1-51.8
R2-52.02
R3-52.38
R4-52.8
PIVOT- 51.45 below this will allow the price to swing DOWN to possible support points of
S1-51.09
S2-50.87
S3-50.52
S4-50.01
ADX- which is a measure of the trend is currently just above 25 ( above 25 indicates a strong trend UP or DOWN)
DMI+ is just over 13 ( this indicates a weak up trend or none at all)
DMI- is just above 30 ( this indicates a stronger down trend)
Please use your own DD to make purchases of stocks. I will look to see a continued down trend unless there are possible outside factors or news for MU.