$MU Bullish Flag ? if breakout off the upper channel, target $58
Updated
My first Idea, please be nice :)
Noticed that
MU is forming a bullish flag (or maybe pennant)... Although it is not a perfect flag, it's still interesting. I will definitely buy if it breaks out of the upper channel with good volume.
Convergent indicators:
1. Bounced off the 200 MA
2. MACD crossing
3. Bounced off the strong support at $39.10
Neutral indicators:
1. RSI very neutral
Divergent Indicator:
1. %R is high
With the same height of the flagpole, target price would be around $59.
Added:
ER is coming up.
AMD, 
AMAT, and 
NVDA all beat. What would MU do? And what would the price do? ;)
Chris
Noticed that
MU is forming a bullish flag (or maybe pennant)... Although it is not a perfect flag, it's still interesting. I will definitely buy if it breaks out of the upper channel with good volume.Convergent indicators:
1. Bounced off the 200 MA
2. MACD crossing
3. Bounced off the strong support at $39.10
Neutral indicators:
1. RSI very neutral
Divergent Indicator:
1. %R is high
With the same height of the flagpole, target price would be around $59.
Added:
ER is coming up.
AMD, AMAT, and NVDA all beat. What would MU do? And what would the price do? ;)Chris
Note
Looks good so far ~ If we get a little bit more volume it'd be awesome.Note
Played out really well with good volume.Looking to sell around 56-58
Note
sold at 55.36.looking to enter in the low 50's
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.