Micron Technology (MU) – Potential Double Bottom Forming
I'm seeing the early stages of a double bottom pattern forming in Micron's (
MU ) price action.
While the stock remains under the 150-day SMA at $112, a breakout above the $90 neckline could signal a reversal with an upside target around $140—a potential 55% gain.
This setup is still far from confirmed and represents a high-risk trade, but it could be a significant turnaround for Micron.
A key factor to watch is Micron's earnings report next week, which could provide the momentum needed for a breakout. Micron has consistently beaten expectations and raised its outlook, so the upcoming earnings might be the catalyst for a major price jump.
What are your thoughts on this potential turnaround? Do you see Micron's earnings fueling a breakout?
Disclaimer: This idea is for informational purposes only and is not financial advice. I am not a professional, and you should do your own research or consult with a licensed professional before making any investment decisions.
MU ) price action. While the stock remains under the 150-day SMA at $112, a breakout above the $90 neckline could signal a reversal with an upside target around $140—a potential 55% gain.
This setup is still far from confirmed and represents a high-risk trade, but it could be a significant turnaround for Micron.
A key factor to watch is Micron's earnings report next week, which could provide the momentum needed for a breakout. Micron has consistently beaten expectations and raised its outlook, so the upcoming earnings might be the catalyst for a major price jump.
What are your thoughts on this potential turnaround? Do you see Micron's earnings fueling a breakout?
Disclaimer: This idea is for informational purposes only and is not financial advice. I am not a professional, and you should do your own research or consult with a licensed professional before making any investment decisions.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.