Time to play the waiting game
MU has yielded its traders healthy profits over the last 6 months, though, as is typical in many stocks, MU has seen fast periods of rapid growth, followed by prolonged periods of rest. While I believe MU will continue to trend upward, I think we are about to see another period of consolidation.
For the last year MU has consolidated at every point of resistance, and given that MU just passed its 52 week high, I do not think it would be unrealistic for us to see some consolidation. Additionally in all of MU's major uptrends for the last 52 weeks; 10 or more days of elevated stoch and 5 or more days of heightened rsi has signaled a period of consolidation (doesn't not apply if not uptrend). So given the current signs, and assuming MU's RSI and STOCH stay positive for a few more days, I think we are going to have to play the waiting game on this one.
For the last year MU has consolidated at every point of resistance, and given that MU just passed its 52 week high, I do not think it would be unrealistic for us to see some consolidation. Additionally in all of MU's major uptrends for the last 52 weeks; 10 or more days of elevated stoch and 5 or more days of heightened rsi has signaled a period of consolidation (doesn't not apply if not uptrend). So given the current signs, and assuming MU's RSI and STOCH stay positive for a few more days, I think we are going to have to play the waiting game on this one.
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