MU: Looking For A Stock With An Upside Breakout Pattern?
In my opinion, MU-Micron Technology-is breaking out to the upside.
From a technical standpoint, Here are the positives for-MU:
1. Currently multiple buy Fractals.
2. The top upper indicator is a 5/34 oscillator, and this is positive. Very strong.
3. The alligator is feeding in the uptrend. A very strong uptrend.
4. Prices are trading above the Ichimoku Cloud .
5. The Momentum indicator (lower top) is strong. The is the Awesome Oscillator-(AO).
6. The Ichimoku Cloud is rising.
7. The 233 interval moving average trend line is rising (this is a Fibonacci number).
8. According to Bill Williams , you can establish an entry point, again and again, with each new valid Fractal .
9. The indicators under the chart (Chop, Chop Zone) have been green (up) for a long time. This is positive if you are long. But (important), when there is a draw-down, you can use this opportunity to establish your entry point, or, accumulate more in your position.
MU-has consistently been strong. As you can see from the Fibonacci numbers for the breakout - MU-has paused at 1.272. I look for strength all the way to 1.618, or $36.73, but I would sell if the other trend indicators weaken.
May all of your trades go well. Don.
From a technical standpoint, Here are the positives for-MU:
1. Currently multiple buy Fractals.
2. The top upper indicator is a 5/34 oscillator, and this is positive. Very strong.
3. The alligator is feeding in the uptrend. A very strong uptrend.
4. Prices are trading above the Ichimoku Cloud .
5. The Momentum indicator (lower top) is strong. The is the Awesome Oscillator-(AO).
6. The Ichimoku Cloud is rising.
7. The 233 interval moving average trend line is rising (this is a Fibonacci number).
8. According to Bill Williams , you can establish an entry point, again and again, with each new valid Fractal .
9. The indicators under the chart (Chop, Chop Zone) have been green (up) for a long time. This is positive if you are long. But (important), when there is a draw-down, you can use this opportunity to establish your entry point, or, accumulate more in your position.
MU-has consistently been strong. As you can see from the Fibonacci numbers for the breakout - MU-has paused at 1.272. I look for strength all the way to 1.618, or $36.73, but I would sell if the other trend indicators weaken.
May all of your trades go well. Don.
Comment:
After reviewing the chart I published, most of it was not visible. I assume this was a file save error. Please pull the chart down manually and adjust the right vertical prices ($24 on bottom, $38 on top) for you to effectively see the breakout pattern. Don.