Hubert Senters here.
Let’s take a look at Micron, MU. A lot of talk on Micron. Still looks like it’s bearish to me technically it is below the cloud. It is bouncing a little bit here off of this known supporter area right here. Got a little support here. See it right there? There’s your support. It’s bouncing off of that in my eyes unless it goes back above the cloud on the daily.
I wouldn’t touch it on the long side. I would just miss a lot of it going from say I would just call it $40 from $40 all the way up to $55. That’s a 15 point move, right. That’s a lot of money to leave on the table. But I would rather be safe than sorry. I think it’s going to bounce up here to $49.96 and maybe even $50 and then roll back over.
Now, if you’re in the long camp and I understand it’s tech stuff technically you steal on a 60 minute timeframe don’t have a buy signal so you’re going to have to wait until it gets above $48 before you mess with it on the long side in my opinion so just be careful with it. I know it’s one of the biggest net gainers today but really it’s just a dead cat bounce in my opinion until it closes above $55.
I’m going to be hosting The Insider Trading Summit ‘’See How to Reap Huge Profits Following Insider’s Trades.’’ I will be hosting it with Ross Givens, that webinar takes place Tuesday, September 18th 7PM EST, first name, last name, email address but your cellphone in here if you want us to remind you of the webinar or if you want the free report there.
Good luck. Hope it helps. And I will see you on the webinar.