NASDAQ:MU   MICRON TECHNOLOGY INC
147 4 2
Bearish Wedge pattern needs to be confirmed by closing below 50 SMA seen @ 23.70 , we need to have 1 day candle closed below the support to go bearish supported by the Divergence in RSI and MACD , i think we would target 20 minimum
we reach 22.98 today ... as long as 23.80 we still Bearish
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Well it spilled over all the support lines imaginable, the low lows, the trend channel, the MA and the crab. Not sure what to make of this
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I agree with Michael on this one. I believe it will go sideways until there is news to move it up
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There is quite a bit of analysis out right now that MU will beat earnings expectations pretty solidly. I wouldn't expect anything terribly bearish to happen to this stock since the company is already undervalued with a P/E ratio of 14 with an sector average of 28. It would be absolute insanity for the price to continue a downtrend with solid earnings growth over the past year and with dram prices expected to increase.
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