Micron Technology (MU) looks like it is about to break a longer term downtrendline. A stock that breaks a downtrendline is likely to go higher.
The trendline we are talking about is a weekly trendline. So this is more for the attention of longer term investors rather than the trader. But now and then, it is always good to be aware of what is happening to a stock.
The chart above shows the weekly chart of MU. It is still in a nice weekly uptrend and currently it might be trying to break above a down trendline as it meets the rising weekly 20 MA.
The above is the quarterly chart of MU.
There is support nearby as old highs overcome now becomes new support.
The daily chart shows that MU is trading erratically. But the stock shows that it is still above its rising 200 MA which indicates a long term uptrend is still intact. The 200 MA might also act as support. Investors will be looking to see if it can trade above the downtrendline.
If MU can break above this longer term downtrend line, it may be the begin of another nice run up in the stock.
Aug 17, 18 05:07 AM
In this lesson we will take a look at the technical developments of OKA Corp's stock price and why it moved the way it did. We will also have a look at what might happen to OKA's stock price.
Aug 16, 18 07:28 AM
In this lesson, we will learn how and why BMY manage to bottom out and start a new uptrend.
Aug 14, 18 08:19 AM
In this lesson we will learn and examine why Pentamaster was able to recover all of its losses to start a new uptrend and achieve new highs.
Aug 13, 18 05:56 AM
The KLCI is currently at resistance territory after a nice big rally. I would consider a sideways trading a possible scenario at the moment.
Aug 13, 18 05:22 AM
In this lesson, we will learn how AAPL's 15 Min stock chart formation help to send the stock higher for 2-3 days to give traders a nice swing trading opportunity.