Near term idea on MU
Updated
The resistance to look at are $74 and $76 (mid BB/Fibonacci).
If the rally continue it would be possible for it to go to $78.5 - $80 (H4/Daily mid BB/Fibo)
MU just breakout from the bearish trend line and looking for more upside in H1.
Since NASDAQ and S&P 500 show sign of strength after rejecting the 50% Fibo level this lean to Bullish Trend.
Worst case if it fail to stay bullish, support to look at are at $68, $64 and $60 (Daily Fibo).
If the rally continue it would be possible for it to go to $78.5 - $80 (H4/Daily mid BB/Fibo)
MU just breakout from the bearish trend line and looking for more upside in H1.
Since NASDAQ and S&P 500 show sign of strength after rejecting the 50% Fibo level this lean to Bullish Trend.
Worst case if it fail to stay bullish, support to look at are at $68, $64 and $60 (Daily Fibo).
Trade closed: target reached
Target Reached $76Trade active
Added some 69C April 29 before market closed.Trade closed manually
Closed 69C April 29 and take a loss 9% premium. Was aiming for a gap up but failed and it enter the downward channel wouldn't risk any position for a while for MU.
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