Good afternoon, everyone. MU is currently moving sideways within a range, and the bulls have not broken through again. The current price action is a very typical “range bottoming after a sharp drop” pattern.
Looking at the chart, the bears made a sharp move down earlier, but the price is now moving sideways within a low range. Pay attention to a few key details: bearish momentum is fading. After the sharp drop, the price has not made a new low, which suggests that selling pressure has dried up and the bears lack the strength to push prices lower.
Trading suggestion: Go long near 700, with a target of 720–740. If it continues higher, look for 760. Stop loss: 675#MU
Looking at the chart, the bears made a sharp move down earlier, but the price is now moving sideways within a low range. Pay attention to a few key details: bearish momentum is fading. After the sharp drop, the price has not made a new low, which suggests that selling pressure has dried up and the bears lack the strength to push prices lower.
Trading suggestion: Go long near 700, with a target of 720–740. If it continues higher, look for 760. Stop loss: 675#MU
