Order SELL MU NASDAQ.NMS Stop 50.17 LMT 50.17 will be automatically canceled at 20230401 01:00:00 EST
MU weekly bearish hammer followed by indecision. We broke monthly uptrend, so why don't go lower?
After a golden cross with the 50 and 200 SMA NASDAQ:MU has pushed up into overbought conditions on the RSI leaving quite a mess as it stretches. Now at all time highs, I believe that it is a good time for a short. With lots of buying pressure in the last couple of days some consolidation is expected. Semi-conductors have been a strong play during 2020, however...
NASDAQ:MU was short 11 cents on its earnings, was downgraded by several groups and began to selloff yesterday, activating bearish pennant with extremely high volume. Earlier in August their CFO stated that the future of memory chips doesn't look good (www.bloomberg.com) and it caused a 9.54% drop from the day's open over the course of a week. After reaching...
Spikes up and retraces a lot, but not really affected by constant earnings misses. History shows it should eventually reach the Jul 2018 high, although some profit growth would be nice! Pullback due in short term.
