Micron Technology Inc Stock Code MU.NAS
Outlook
Price has just broken below the cloud, which could be the first sign of a change to a bearish trend. Price is also below the Conversion and Base lines. Both lines are pointing lower. These are signs of a bearish trend. Price is also capped by an uptrend trend line. MACD has had weaker momentum peaks while price was moving higher. This is also another sign of a bearish trend in the making. Any price rally is likely to be capped by the Base line and the cloud at $40.40. We think this could be a good location to get into a short position for a decline to $36.63 or $32.64.
Strategy
$40.40 Short Sell
$32.65 Price Target
$41.60 Risk Management Stop
4 weeks Trade Duration
Advanced Micro Devices Inc Stock Code AMD.NAS
Outlook
Price managed to hold above the edge of the cloud and on Friday, managed to close above the previous 5 days’ high. It also managed to close near its day high. This could be a sign the correction is over and a rally is about to begin. MACD, which has been declining since the start of April 2019, is showing sign of a turnaround. This could trigger the start of a rally to $32.62. If price goes below the cloud at $25.50, it could signal the end of the rally and a major price correction is unfolding.
Strategy
$27.70 Buy
$32.60 Price Target
$25.50 Risk Management Stop
4 weeks Trade Duration
