Will the upward movement continue?---Yes

BATS:MU   Micron Technology, Inc
MU has had great run over the last couple months and from elliott wave analysis it appears that MU is currently in its 5th wave. This raises the essential question of where are we in the 5th wave. I tried to answer this question by modifying the time horizon to assess the waves progress, and while only time will tell, it appears that the third wave of wave 5 is coming to an end. This should create a good buying opportunity for a day or two before the stock continues its upward tread. Additionally, the MACD and the money flow index both offer positive signs of wave five continuation. If anyone has any comments, or has a different interpretation of the data I'd love to hear it.


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.