$MU —Late in a trend, trading ranges often get retested

MU — Short Setup

Late in a trend, trading ranges often get retested. That’s the setup I’m watching in $MU.

Analysts are now fully aware that Micron has doubled its memory chip prices, which makes it likely that this positive development is already priced in. If expectations have peaked, the risk shifts toward range testing or downside, rather than further upside expansion.

Stop: $346.60 should hold