MU BULLISH ANALYSIS
Pattern on the weekly view:
The weekly candle show a close near the EMA20.
Last occurrences of a close near the EMA20 (W):
Date From ($) To ($) P/L Sessions
April 30, 2018 48.26 64.66 +34% Next 4 weeks
Feb. 05, 2018 41.01 63.42 +54% Next 5 weeks
Aug. 07, 2017 28.82 35.00 +21% Next 5 weeks
Therefore, MU might hit $60 by August 03/10, 2018. One can consider MU bullish if it breaks the resistance at 53.8 this week. However if it completes the forward 3:1 pattern today, one will wait it to cross high target of 54.79 to go for calls or to cross the low target to go for puts.
Target price math’s:
The lowest P/L is 21% in 5 weeks. That is 4.2% per week. Applying that percentage to the close of July 06 for the next 3 weeks we have a target price of ~60$. We added one more week just for security.
The weekly candle show a close near the EMA20.
Last occurrences of a close near the EMA20 (W):
Date From ($) To ($) P/L Sessions
April 30, 2018 48.26 64.66 +34% Next 4 weeks
Feb. 05, 2018 41.01 63.42 +54% Next 5 weeks
Aug. 07, 2017 28.82 35.00 +21% Next 5 weeks
Therefore, MU might hit $60 by August 03/10, 2018. One can consider MU bullish if it breaks the resistance at 53.8 this week. However if it completes the forward 3:1 pattern today, one will wait it to cross high target of 54.79 to go for calls or to cross the low target to go for puts.
Target price math’s:
The lowest P/L is 21% in 5 weeks. That is 4.2% per week. Applying that percentage to the close of July 06 for the next 3 weeks we have a target price of ~60$. We added one more week just for security.
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.
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.