MU has reached high point at exact Fib numbers and turned back. Now, it found support after retracing nearly 50% of previous rally. It is showing bullish signs across many indicators. We can have a bullish confirmation once it crosses $42.10.
Since IT sector is highly volatile now...I would go for a straddle (buying a put and call at same strike price for same expiration) on this. Thus I'll have profit either it goes up or down. (If market is positive there is a huge upside for it based on technicals (min target $48). If market is negative then it might reach $35-$38 band. So, there is a huge range here...which is a good sign to go for a straddle).
Disclaimer: This is just my opinion based on my knowledge and experience. Trade at your own risk.
Since IT sector is highly volatile now...I would go for a straddle (buying a put and call at same strike price for same expiration) on this. Thus I'll have profit either it goes up or down. (If market is positive there is a huge upside for it based on technicals (min target $48). If market is negative then it might reach $35-$38 band. So, there is a huge range here...which is a good sign to go for a straddle).
Disclaimer: This is just my opinion based on my knowledge and experience. Trade at your own risk.