After an intense rally $MU, on a weekly basis, shows signs of weakness quite clear.
RSI actually is flagging up a crude divergence, macd is already in bearish mode and the solid trendline which has supprted the trend so far is almost violated. Volumes are low especially last week where the price touched the mid term trendline (another sign that investors are not so conviced to buy more shares: this latter is confirmed by vortex indicator too).Hence, next week will be crucial, for those who love short positions, it might be a temptive occasion.
A first TP is placed at 44,35 dollars, than 38 and a strong support at 36,02 dollars
RSI actually is flagging up a crude divergence, macd is already in bearish mode and the solid trendline which has supprted the trend so far is almost violated. Volumes are low especially last week where the price touched the mid term trendline (another sign that investors are not so conviced to buy more shares: this latter is confirmed by vortex indicator too).Hence, next week will be crucial, for those who love short positions, it might be a temptive occasion.
A first TP is placed at 44,35 dollars, than 38 and a strong support at 36,02 dollars