$MU, Textbook Falling Wedge, ABC Correction Wave,Fib Retracement
If you missed buying MU at 72, then now is your moment. On chart you can see, price bounced off the 38.2 few days ago. As in every other falling wedge we like to see increased volume on the lower side as in early May and 19th of June. Earnings couldn't push the stock over the wedge, but there's a really good chance MU wont go under 75 in the near future.
Bullish Targets: 80-85 by mid August, at ATH by end of August.
Busted Pattern: Under 72
Options play: STO AUG 20 $72 Put or defend with a spread. Naked $80 Calls
Bullish Targets: 80-85 by mid August, at ATH by end of August.
Busted Pattern: Under 72
Options play: STO AUG 20 $72 Put or defend with a spread. Naked $80 Calls
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.