Micron internals improving
Technical Analysis
From the beginning of May, MU has been kept in a range; however:
Trade analysis
I expect MU will try to test the roof of the consolidation range at $85.5 approximately; after, a re-test of the 50sma as support could signal a potential buy.
From the beginning of May, MU has been kept in a range; however:
- RSI has been making higher lows where price has been retreating at the same support level.
- OBV is confirming the uptrend in volume within the consolidation range.
These two bullet points support a bullish case for MU.
Trade analysis
I expect MU will try to test the roof of the consolidation range at $85.5 approximately; after, a re-test of the 50sma as support could signal a potential buy.
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