Micron Technology Inc Stock code MU.NAS
Outlook
Price has moved in a nice trend channel since the bottom at $28.38 in Dec 2019. Yesterday, price dropped below the trend channel and closed below the channel. This could be a hint of an end of the rally. Price also closed below the Base line as well. MACD has a divergence warning earlier when price was on the rise, hinting of a possible price high. MACD is still bullish but is turning down. If price stays below the trend channel, it is likely to move back to test the previous low at $37.45.
Strategy
$40.15 Short Sell
$37.45 Price Target
$42.15 Risk Management Stop
2 weeks Trade Duration
Netflix Inc Stock Code NLFX.NAS
Outlook
Price resumed its advance after a pullback in mid Jan 2019 from the Dec bottom. The second rally could have ended at $371.49. There were 3 red candles with each candle getting bigger than its preceding candle. This is a sign of a more bearish price movement. Price has moved below the Conversion line and is now sitting on the Base Line. A break will confirm the downward movement and bring price back to the cloud support at $319. MACD is showing bearish divergence warning of a possible top in the making.
Strategy
$356.90 Short Sell
$328.10 Price Target
$368.00 Risk Management Stop
3 weeks Trade Duration
