Time to long MU?

  • Company: Micron Technologies
  • Stock Ticker: MU
  • Bias: Bullish 

We’ve established a solid double bottom in the last 6 weeks on MU and the case for some bullishness is certainly there. With the agreed pause on the tariffs between China and the US, I think there’s a good chance we will see technologies stocks gain the most in the coming days. 

I would like to see a break above $39.15, in which you could then place a limit order at that price and wait to get filled on the retest. I would place my stop at around $35.80 and I would target the 100 day simple moving average at $45.48

Of course depending on how the markets open and how big of a gap we will see with the trade news, its possible that this trade will not even trigger.

MU Chart

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