This may drop even further before finding the support, for now it seems to be right on the support(break down possible in coming days)
Shop has some more steam left, and looks like there is going to be one big push coming. key numbers in yellow
lets see if there is a volume breakout on this there is definitely a divergence i see
how long is the collection going to happen? HOLD for now waiting to see a 65 soon. back testing theory, marking various support and resistance for time being
hold for collection to over(either accumulation or distribution) trend is going to be after this phase is complete look out for key numbers in blue Back testing theory
This is one of the few stocks, similar to fit, snap, tlry, hmny this seems to be on a downward spiral. its near impossible as of now to go back to its former glory. back testing theory for long short
Shop long term support and resistance back testing theory for trends blue line for support black line for trend
lookout for 20days moving average bounce, black trend line, support and resistance points lookout for rsi and macd
That gap down should go through gap fill, price targets i see are 150(test support here) then go to 156/162/165/172
If support holds, might bounce back, else will continue to drop, let the dust settle tomorrow is going to be better day !
From the chart, atleast from a possible trend line, it seems to be following the channel lately, 120 would be key. either ways this can be a good candidate to rinse and repeat the channel lows and highs. keeping into observation
If it was any other day, i would think of going a call - (MU is going to long run winner, but market is in sprint mode) Memory market demand is relatively cheap and overcrowded china trade deal is having huge impact less and less demand and over supply will sure make this a short term short candidate. I would hate to see it go to 37$ but if it does, that will be...
support is around 120, but this is very much in the channel with good fundamentals. would test 137 is what i would like to see
Support 188 - if this breaks down then it will be a new trend, but this is a strong support as of now w.r.t long term trend. potential move-ups 196/202, there is a high probability of this bouncing of this support with 6% volatility. best bet check is to check for 15min ORB either ways a short term call for now testing theory.....
I think SPY is going to see a short squeeze tomorrow, might even open gap down. SPY is beyond technical analysis, news seems to have stronger impact, so watch out for any triggers through out the day. good luck