MU is at that point where it needs to make a move either significantly upwards or down. Selfishly
I want this to be up and I think earnings will settle the long term investor down with the recent price deflation of the memory chip segment which I personally think is a bit early. Seeking alpha posted a great article detailing ZERO EVIDENCE that these memory chips will fall in margin anytime soon. I agree.
I want to see MU break the $85 mark WITH VOLUME as confirmation and push up towards a retest of $96.96. I think if this happens it will actually break this resistance and push towards $105-$115.
If it can’t break $85 I would exit the position if you are long as a bearish downtrend might be eminent.
I want this to be up and I think earnings will settle the long term investor down with the recent price deflation of the memory chip segment which I personally think is a bit early. Seeking alpha posted a great article detailing ZERO EVIDENCE that these memory chips will fall in margin anytime soon. I agree.
I want to see MU break the $85 mark WITH VOLUME as confirmation and push up towards a retest of $96.96. I think if this happens it will actually break this resistance and push towards $105-$115.
If it can’t break $85 I would exit the position if you are long as a bearish downtrend might be eminent.