At Major Resistance level and Upper Channel Resistance$MU had a good run, but it is reaching a major Resistance level at 48, It matches the upper channel resistance level, plus other technical levels like overextended overbought level, waning bullish imbalance, profit taking area, this can reduce the likelihood this will try to breach the 48 level. It makes more sense to try to retreat, shake the tree and try a second attempt after testing the support at 43. This creates a bearish leg targeting at 43. If the bearish side takes over, it may actually bring it down to test the secondary support level at 38. In the best case bullish scenario it could be bouncing in choppiness leaking momentum for a couple of weeks with eventual bull pumps and dumps to try to prevent the bearish positions from building up.
