MU: Reacting at a SUPPORT LEVEL!
• MU is reacting this week, but the trend is still bearish;
• MU is doing lower highs/lows, and in theory, it is seeking the next support at $46.23 (red line);
• Could MU bounce from here? Yes, and this week is doing a bullish reaction, but it must close above the $51.30 again in order to recover to the $58 - $60 area again;
• By closing above $51.30, MU will trigger a false breakout from a previous support level. Along with the recent increase on the volume, this might be what it takes for MU to recover;
• MU is a promising stock, but for now, it must do better signs in order to become attractive again.
I’ll keep you guys updated on this. Remember to follow me for more analysis like this! Keep in touch.
• MU is doing lower highs/lows, and in theory, it is seeking the next support at $46.23 (red line);
• Could MU bounce from here? Yes, and this week is doing a bullish reaction, but it must close above the $51.30 again in order to recover to the $58 - $60 area again;
• By closing above $51.30, MU will trigger a false breakout from a previous support level. Along with the recent increase on the volume, this might be what it takes for MU to recover;
• MU is a promising stock, but for now, it must do better signs in order to become attractive again.
I’ll keep you guys updated on this. Remember to follow me for more analysis like this! Keep in touch.
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