MU is a clear tech short for summer. Consistently missed on earnings, and a kind of messy H&S pattern. Might be a potboiler, but the skewed H&S leads to an obvious support level of 27 (our target), which in turn means an entry at 39 (market) allows a generous $3 (7.7%) stop. Obviously a small size trade.
Only an earnings surprise on Jun 21 could upset this trade, so we may get out before then.
Only an earnings surprise on Jun 21 could upset this trade, so we may get out before then.
Trade closed manually
Exited at 32.30 before earnings.
David Atherton
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David Atherton
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.