MU - Lookout for trend reversal
MU is coming close to it's previous primary up trend.
In my opinion the direction of MU will reverse back on a bullish trend and will eventually break through the resistance line on the chart.
You can open a small LONG position now but I like to wait for the better trade setups.
A good price to buy is 42.50 with SL at 39. My target for now is above the resistance line.
In my opinion the direction of MU will reverse back on a bullish trend and will eventually break through the resistance line on the chart.
You can open a small LONG position now but I like to wait for the better trade setups.
A good price to buy is 42.50 with SL at 39. My target for now is above the resistance line.
Nota
Caution, the company is going to release its earnings report in 2 days, there will be a big move after the report. My predication is on the long side however please manage your risks accordingly.
Penafian
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