This $MU short setup was published two weeks ago in the Weekly Markets Analysis free trading newsletter.
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21 ready to croos downward 50ma anytime 3-ema confirms this cross over there is high probability to see at least 15-20% decline. Sept 31 Put trade has a higher chance to make 100% profit before expiration. Stay tuned for more to come!
Micron has completed a topping formation, hinting a potential deeper bearish correction.
-The price has completed a minor head and shoulders pattern, by breaking 31.80 horizontal support level,
- In addition to breaking the 50-days SMA.
-Strong volume levels on breakout
-The price attempted to regain the upside, but today's action was bearish, as price failed to...
After a fantastic run from 21 to 32, now it had attempted to cross 33 for the second time.
Usually on 2nd/3rd attempt the price goes down. With negative divergence on RSI/CCI , i suspect the price will dive to long term trend support and fill the gap if a large slide happens. MACD and RMI are on top as well giving downside potential. Note that previous 3-5% push...
For now even good earnings failed to change the trend after it broke the previous trend support line . Latest sessions bounced off 150 DMA, but there may be some elliot wave type of action pushing the price lower for now. Also it covered a gap from some time ago and for now is below the middle bolinger that has been a good indication of a bearish trend for this...
Bearish Wedge pattern needs to be confirmed by closing below 50 SMA seen @ 23.70 , we need to have 1 day candle closed below the support to go bearish supported by the Divergence in RSI and MACD , i think we would target 20 minimum
I Like how Heikin-Ashi Bars show Trend. But I don’t like how they open at the midpoint of the previous bar so you can’t see Price Action, or GAPS. This Paint Bar Indicator solves that issue. I created the lower Indicator b/c currently if you want Paint Bars for any other candlestick patterns it’s not possible to plot both. Also more advanced version is coming...
MU is in a long term uptrend.
the pattern is consolidation and then a break highr each time a nice move (over 20%)
note the false break aat first and then the real break
go long here
short term target 26$
long term target 30$
stop at close below 22.5
GL
MU was the second biggest winner in the S&P 500 last year, and it's kicking off 2014 on another strong note. The DRAM bellwether moved higher after posting better-than-expected quarterly results.
![MU: Micron Technology [MU] in a bearish mode](https://s3.tradingview.com/b/BEW9UqeC_mid.png "Micron Technology [MU] in a bearish mode")
