MU has been trading at or above its 100 day moving average since the very end of January.
Looking at RSI (2 period, 90% and 10% upper/lower bands) MU starting to touch the lower band.
On 2/11, RSI hit 23.88%. Stock moved up nicely the following days as RSI started to hit the upper band.
Although RSI is showing a lower oversold indication compared to the most previous two point around 23.88% and 21%ish, bulls may still be in charge and drive the stock price back up to continue the trend.
Long 40 MU @ $40.70.
Plan to exit somewhere around 42 in the next 4 to 7 trading days, give or take.
Cheers !
Looking at RSI (2 period, 90% and 10% upper/lower bands) MU starting to touch the lower band.
On 2/11, RSI hit 23.88%. Stock moved up nicely the following days as RSI started to hit the upper band.
Although RSI is showing a lower oversold indication compared to the most previous two point around 23.88% and 21%ish, bulls may still be in charge and drive the stock price back up to continue the trend.
Long 40 MU @ $40.70.
Plan to exit somewhere around 42 in the next 4 to 7 trading days, give or take.
Cheers !
Note
Made an exit today.Sold 40 MU @ 41.10
Not much but I'll take it. Very happy to see a bounce after seeing an oversold indication using RSI.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.