MU is one of the few stocks that has been struggling on making the V-shaped recovery compared majority of it's peers in the tech industry. As we can see MU is back to it's consolidation range back from June-August.
Breaking above 51.30 and we'll retest 53.50-54.00 hard resistance. I picked up a few 52C 10/2 swings from yesterday and ended up trimming half for 30% and swinging the rest considering the amount of time we have and how MU's is setting up.
PT @51.90-52 and 52.60-52.75
Ideal PT @53.8-54.20
Conservative SL @50.55
Max SL @49.69
Look to Short MU and TP if MU fails to break over 51.50-51.60-51.75 minor resistance @Open today
Breaking above 51.30 and we'll retest 53.50-54.00 hard resistance. I picked up a few 52C 10/2 swings from yesterday and ended up trimming half for 30% and swinging the rest considering the amount of time we have and how MU's is setting up.
PT @51.90-52 and 52.60-52.75
Ideal PT @53.8-54.20
Conservative SL @50.55
Max SL @49.69
Look to Short MU and TP if MU fails to break over 51.50-51.60-51.75 minor resistance @Open today