Will the open MA's lead to an upward breakout out of the rising wedge?
Or will the technical patterns ( rising wedge ) favored outcome arise? Bearish .
Personally I'd follow the Technical Indicator's assessment
Micron has broken out of its first pennant, but I see a tide of selling going into next week dragging MU down to high $47's. I am waiting until the end of the month to go long on anything, but Micron is high on my list of lagging stocks that I see busting out to ATH's going into the end of the year.
NASDAQ:MU
Hi all, MU is still inside a consolidating triangle, so I am not looking for a breaking to ATH's yet. MU next target is 49.20, but if it can't break the downward resistance, it will likely retest 43 range. As long as MU stays above the upward support, the target is 49. Further analysis and thanks to my followers for keeping me up to date
NASDAQ:MU
As per my previous analysis, MU did exactly as expected and filled the gap at 46.80 and hit support at the $45 level. Now MU has settled at a support line established during the flash crash of Christmas 08. Nothing screams BUY MU like this setup.
Feel free to follow for ongoing analysis
NASDAQ:MU
MU broke through the channel I drew and the stock appears to be heading towards major support at $45. I will consider this my entry point for calls. I think this a great stock that doesn't get the credit it deserves. I'd like to see this stock head to $60 again by year end.
MU Idea
A clear rising wedge has formed between the dominant trendline and another trendline below this line
A inverse H&S has also formed with a possible right shoulder already printed, a possibility that it is a fake and another will be printed as a result of the rising wedge.
Chart looks fantastic.
PMO, MACD, RSI & STOCHASTIC look bullish.
Blowout Earnings coming within weeks.
Looking for Micron to trade up to its old time highs of around $61.00
Long!
MU weekly chart shows a bottom completion underway for MU as it recovers from a 50% decline last year. The stock is showing some underlying momentum from large lot hidden activity.
MU has formed an island top the price may come to a reversal at the 1 fib level due to this formation. Maybe a rounded top? Possibly my favourite chart pattern so far.
