Blow out sales and strong cash on recent quarter. Bottom formation is done and should bode well. Jan-14 : FDA approval for HCC due.
Rest all on chart.
Micron should be double bottoming here and correction likely over. But then it is Micron with a big hammer from all over and the negativity like Memory cyclic top/China trade war etc.
Trend line break here should give some relief rally back to 50s.
Looks like correction is complete and should start recovery back to 14s.
On daily with 200 SMA lost, major technical damage to the support was taken out. But long term, as long as we have not lost the previous low support of 45.38, likely side ways AB=CD , correction after 5-Wave move. This appears more likely to be Super cycle Wave-I followed by Wave-II correction. A bounce here is Wave-III will give upside targets of 80+. ...
Regression channel / 40 SMA weekly / Daily 200 SMA confluence should be point of inflection
Current Sine cycle uptrend should start after AUG-3rd week. Never tried this for trading but surprised to see how matching it is on peaks/troughs of sine wave.
With all the positives from company Q2 earnings call, breakout upside is looked into . Ascending traingle breakout probability is comparatively less. So targets have no value till breakout. GLTA.
Elliot wave counts marked on the chart. Regression downtrend channel breakout. Most positive indicator is Weekly MACD turning positive. JULY/AUG are seasonally bullish. Added to SP400 list. June Monthly candle stick is a bullish hammer. Good Luck!
OIL should be back to new normal 75~80 and range to 100. Middle East is back on TV... Tipical pattern is you hear Iran/Israel/Palestinian and middle east back on all media regularly. BTW, PBR is set to rally for mid 20 by next year.