TradingView
SharpCharts
Feb 12, 2018 7:22 PM

Micron Technology / Target $60 

Micron Technology, Inc.NASDAQ

Description

MU - a high quality stock - bounced off nicely from previous high and EMA200 resistance zone.

Short term price projection is $60 (green box) where 61.8% Fib level from prev. ATH in confluent with 1.618% projection from previous pivots.

Trade closed: target reached

Peak was formed nicely as expected around green boxed area.

Comment

Comments
SharpCharts
I forgot to mention the bullish divergence formed on price against both RSI and MACD. This give us another piece of evidence to strengthen our bullish argument.

The correction seems to have completed with the 3-wave movement. Though, to make it perfect, I wanted the correction deeper to touch one of the Fib. level.

Updated with my trading plan. If this fails, there will be another opportunity at lower price.


More