MU: Can the trendline hold?
Updated
Gapped down and broke out of the channel yesterday.
However, the longer term up trendline + horizontal line supported the price. The big volume looks like it has exhausted all the sellers as well.
Since on a longer term MU is still in an uptrend, let's see if we can get a bounce up back to close the gap for a nice 2.5 R/R
Disclaimer: I'm not giving any trading and investing advice. I'm just sharing my chart observations.
If you have any symbols that you'd like me to analyze, feel free to drop me a comment.
However, the longer term up trendline + horizontal line supported the price. The big volume looks like it has exhausted all the sellers as well.
Since on a longer term MU is still in an uptrend, let's see if we can get a bounce up back to close the gap for a nice 2.5 R/R
Disclaimer: I'm not giving any trading and investing advice. I'm just sharing my chart observations.
If you have any symbols that you'd like me to analyze, feel free to drop me a comment.
Note
Support holding up nicely. Let's see a quick bounce to $76 at least!Trade closed: target reached
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