Buy low sell high. Nice gap, nice candle, nice volume.
Descriptions inside....Use tights stops also if your planning to play this along the SL $MU #GLTA #nasdaq #stocks #oc #ca #trading #swingtrading #trendfollowing FULL DISCLOSE these are only my thoughts and not a recommendation
If MU gaps up, it is a perfect gap n go. If it gaps down, it will be a retest gap. To learn to trade these strategies for free, go to www.RealLifeTrading.com
Looks like tomorrow's result will make the decision... If it goes down then gap will be filled.
MU has been channeling up since 3/2013 in a wedge that is due to correct by falling to the bull trend line. There have been 3 pushes, and it looks like the correction is taking on an ABC pattern. You could short now or short 1 tick below last week's low.
Possible change in trend since support has been reached, with a potential breakout once resistance is reached followed by a steady bullish trend.
After a fantastic run from 21 to 32, now it had attempted to cross 33 for the second time. Usually on 2nd/3rd attempt the price goes down. With negative divergence on RSI/CCI , i suspect the price will dive to long term trend support and fill the gap if a large slide happens. MACD and RMI are on top as well giving downside potential. Note that previous 3-5% push...
Buy on Friday's Dip. MU is expected to beat earnings by most investors. You can do more research here: www.zacks.com
For now even good earnings failed to change the trend after it broke the previous trend support line . Latest sessions bounced off 150 DMA, but there may be some elliot wave type of action pushing the price lower for now. Also it covered a gap from some time ago and for now is below the middle bolinger that has been a good indication of a bearish trend for this...