After Sandisk and Micron respectively found support around 1168 and 830, bearish momentum weakened. Especially for Micron: when the 3-day MACD reached the zero axis, it did not drop below the zero line; instead, it ran nearly parallel to the zero axis. This dragged down the bearish trend on both the 5-day and weekly charts. Although the weekly chart is still in a major bearish trend, the decline has slowed on the 3-day line, temporarily diluting it—so the weekly reference value has been reduced. As a result, the stock has been much stronger in the short term.
If the strong support zone below at 830–780 holds without breaking, it won’t open up downside room; instead, it will likely choose to “shoot up” to the upside. So, for short-term short selling, you need to start being more conservative.
After tonight’s non-farm payrolls, the main players will choose a direction. If they open up the upside space, then it will mainly be “buy on dips,” with take-profit set in advance for new highs. Similarly, if the downside space hasn’t been opened further, then repeatedly shorting around the original level multiple times will erode the edge—so you’ll need to wait for new highs before re-entering.
If the strong support zone below at 830–780 holds without breaking, it won’t open up downside room; instead, it will likely choose to “shoot up” to the upside. So, for short-term short selling, you need to start being more conservative.
After tonight’s non-farm payrolls, the main players will choose a direction. If they open up the upside space, then it will mainly be “buy on dips,” with take-profit set in advance for new highs. Similarly, if the downside space hasn’t been opened further, then repeatedly shorting around the original level multiple times will erode the edge—so you’ll need to wait for new highs before re-entering.