Hubert Senters here.
Let’s take a look at MU, Micron Tech. Having a good day. One of the biggest net gainers so far.
It could continue higher today. We’re going to throw a Fibonacci extension this and see where we think it’s going to head.
I’m going to go from this low point. Rule number one you got to look for a new high. There you go and then the new low. So the pattern that you’re looking for is pretty easy to recognize.
A low, a high and a high or low. So in this case, I’m picking my point as this is my low.
That’s my most recent high and then this is a high or low. And then this should project into the future that MU wants to go to $62, $68, $75 and $78.
And hope you hang up on the $62.70. Sometimes they cut through them like a hot enough through butter. Sometimes they act as resistance and you have to make the call in real time based upon what your trading plan is or what you think your trading plan is.
Roger Scott and his team is doing a special webinar tonight on ‘Turning Point 2020: Secret Formula For Sector Trading.’ If you don’t understand sector trading but if you need more education on it, go over and sign up for Roger’s webinar. It’s happening on Wednesday, February 12th at 7PM EST.
You can read all the bullets underneath the headline here.
Good luck. Hope it helps. See you on the next video.