$MU just swept the local low, tapped into the Fair Value Gap (FVG), and put in a strong impulsive recovery candle. Expecting a continuation back toward the recent highs as long as current support holds.
Trade Setup:
Long Entry: 1,085 - 1,087
Stop Loss: 1,079
Target: 1,098
{future}(MUUSDT)
$SPCX
{future}(SPCXUSDT)
continues to surprise me.
Over the past month, the stock is up roughly 7%-8%, despite multiple share unlocks putting significantly more stock into the market.
Since August, nearly 2 BILLION additional shares have become eligible for trading across several lockup expirations.
You would think that kind of added supply would crush the stock.
Instead, $SPCX is still sitting around $148.
I still think the valuation is expensive, but the stock has handled these unlocks ...