Micron should be double bottoming here and correction likely over.
But then it is Micron with a big hammer from all over and the negativity like Memory cyclic top/China trade war etc.
MU is still in a downtrend on daily but i'm expecting one last wave down before a potential reversal. Look to the price action in that level on a lower timeframe.
This set up isn't isolated to MU but I believe MU will be the best buy on this set up. Here are two other examples:
VISA
S&P 500
MU is chosen because we are at weekly volume profile, 2 over sold indicators on weekly, strong fundementals. Entered @ 41.61 (end of day).
It's forming ascending triangle at the end of down channel and that would cause break out to go up. If not we will hit 40$ again. Upon upward break out - target remains 52.
We’re picking up and seeing a trend reversal. Even though MU has not kept there word by purchasing there own stock. I think they will let it slowly build and then we will see a big jump in the coming months back into the high 50’s
