ChrisLan
Long

$MU Bullish Flag ? if breakout off the upper channel, target $58

NASDAQ:MU   MICRON TECHNOLOGY INC
My first Idea, please be nice :)

Noticed that $MU is forming a bullish flag (or maybe pennant )... Although it is not a perfect flag, it's still interesting. I will definitely buy if it breaks out of the upper channel with good volume .

Convergent indicators:
1. Bounced off the 200 MA
2. MACD crossing
3. Bounced off the strong support at $39.10

Neutral indicators:
1. RSI very neutral

Divergent Indicator:
1. %R is high

With the same height of the flagpole, target price would be around $59.

Added:
ER is coming up. $AMD, $AMAT, and $NVDA all beat. What would $MU do? And what would the price do? ;)

Chris
Comment: Looks good so far ~ If we get a little bit more volume it'd be awesome.
Comment: Played out really well with good volume.

Looking to sell around 56-58
Comment: sold at 55.36.

looking to enter in the low 50's

Comments


There appears to be a failed breakout down from a symmetrical triangle; that would support your idea of a move upwards, wouldn't it?
Reply
ChrisLan germac
@germac, I agree, let's if it stays above the trend line this week.
Reply
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