MU to fall a little further before buy opportunityNASDAQ:MU
MU broke through the channel I drew and the stock appears to be heading towards major support at $45. I will consider this my entry point for calls. I think this a great stock that doesn't get the credit it deserves. I'd like to see this stock head to $60 again by year end.
MU trade ideas
MU: What yah got setting up?Saw some selling pressure at close but held at key support. Lets see if there is strong volume as there was today into selling, for tomorrow. If heavy volume.... the direction could be telling. There was Kind of a heavy fall on very little news (WDC earnings) when the semi-conductor industry is doing well. I am personally hoping for a rebound tomorrow but I would not be surprised should this continue to drop.
MU Short-term short for Week of 7.26MU looking weak here on the chart. We had bearish volume on Friday which we should continue into this week.
I wouldnt leave this short active longer than a day or two; nor would I enter the trade unless we get an hourly close below
49.75. As it goes lower in price, I would expect us to find more buyers.
Targets:
Target 1: 49.00
Target 2: 48.25
Target 3: 47.00
Target 4(extreme): 46.25.
Best of Luck,
--d0x