MU – Micron Technology, Inc. Inc.
Context Technical Analysis
In the last two months, MU formed an ascending triangle, with the highs forming the upper horizontal side and the lows the ascending lower side.
When the price reached the apex of the triangle, it broke above the upper side and above the upper Bollinger Band with three bullish candlesticks separated by gaps.
In the last sessions, the Relative Strength of MU moved up and above its 20-day moving average.
Higher Time Frame
From MU's weekly chart below, we can see:
· The price of MU is moving up in a bullish channel – the green lines
· MUI broke above the orange resistance line with a huge bullish candlestick
· From the Relative Strength chart, we can see that MU outperforms.
Money Management Guidelines
Suggested Buy: 55
Suggested Sell: 48
Suggested Trade Size: 140
Our Money Management Guidelines are based on the assumption that our capital is USD 100000 and we allow a 1% loss of capital per trade.