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Analysis: #Cboe BZX $MU

Case 60 #Micron Technology Inc

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

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#MU 1/7
Ever since peaking at 97.50 in July 2000 Micron has been rather subdued, however, a slow, steady recovery began in 2013. Current trading conditions are messy and range-bound - the entire 2019 range from low to high is $18.

MU 2/7
Chart 1
Monthly Chart: The sloping synthetic #trendlines are the most important piece of information in the monthly chart - a break/close above will signal strength. #Resistance into 66.40-63.60 zone is formidable but ....

MU 3/7
.... should fail to dampen the upside on a second attempt. The long term objective is 98.87 but that is expected to be seen at maximum in 2023.

MU 4/7
Chart 2
Weekly Chart: Immediate resistance is seen around 49.17/41 (#Fibonacci & trendline). Weekly SMAs adding good support.

MU 5/7
Chart 3
Daily Chart: For the last 5 months price has been trading in an $11 range. The #SMA 20 & 50 are unreliable but #support can be seen at the SMA 200 (42.44).

MU 6/7
Chart 4
Monthly Chart: The #Strategy is printed on the image.

MU 7/7
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