MU Downtrend - Sell at 51.93 Good Risk/Reward Ratio
SImple technical analysis. MU has broken long-term uptrend and recent price action is looking bearish for a short-term at least.
Note
Huge gap down at the opening bell. Good time to take some profits if not already done so. Target is almost reached, look out for a bounce up or a break through the support line.Trade closed: target reached
Price is skimming the support line. I recommend closing your positions. RSI indicator is showing the stock is overbought but it doesn't mean the price can't continue to fall below the support line. I will not take any further action with MU at this time.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.