After a fantastic run from 21 to 32, now it had attempted to cross 33 for the second time.
Usually on 2nd/3rd attempt the price goes down. With negative divergence on RSI/CCI , i suspect the price will dive to long term trend support and fill the gap if a large slide happens. MACD and RMI are on top as well giving downside potential. Note that previous 3-5% push had larger volume - last 4.5% push had less volume.
If goes below 31.71 i would say the trend change is confirmed with a price target of 29+, where i see a good buy zone should fundamentals stay in tact [as they are great for MU and it has a low P/E comparing to the industry] and no bad news coming out. Closing above 33 and breaking 34 would indicate a break of trend and would violate the idea, but i would expect it to happen on a huge volume and with a large push due to some positive news.
Usually on 2nd/3rd attempt the price goes down. With negative divergence on RSI/CCI , i suspect the price will dive to long term trend support and fill the gap if a large slide happens. MACD and RMI are on top as well giving downside potential. Note that previous 3-5% push had larger volume - last 4.5% push had less volume.
If goes below 31.71 i would say the trend change is confirmed with a price target of 29+, where i see a good buy zone should fundamentals stay in tact [as they are great for MU and it has a low P/E comparing to the industry] and no bad news coming out. Closing above 33 and breaking 34 would indicate a break of trend and would violate the idea, but i would expect it to happen on a huge volume and with a large push due to some positive news.
A-shot investment and trading
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A-shot investment and trading
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Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.