Goldman has been trying to work out of the funk that it landed in during the January selloff. It saw a nice earnings pop. Each number on the chart corresponds with a number here
1. First attempt to breakout into new highs and hold price above the 200 day MA
2. After another month or so of consolidation there is another, stronger, push to break to 200 day MA....
MU can convince me to go long with a weekly close above $45, somewhere above the 50MA. For now that area is acting as resistance and we're right there. No point in going long with your fingers crossed. I'm the kind of player who sits on the sidelines until a decision is made one way or another.
Weekly close above the 50 = long.
Current price - neutral.
This stock was strong. Very powerful move. But I think we can alll agree that the steam has been let out. We've had a few days of indecision. Bears are getting hungry and bulls are tired after that big run up. Probably time to hand the ball over for a while.