CFD Trading – Sell Micron Technology INC.(MU.NAS) @ $45.80. Stop at $50.20 and Target at $39.35

Micron Technology Inc Stock Code MU.NAS

Price broke below the cloud on 11 Aug 2020 and two days later, there was a gap down, reinforcing the bearish trend. Price has also broken below a four-month uptrend channel as well. Both of these action, reinforces the bearish trend. Conversion and Base lines had a bearish crossover earlier, confirming the bearish trend. Lagging Span is below price of 26 days ago but is inside the cloud at the moment. Lagging Span is near to the lower edge of the cloud and another lower closing would likely moved the Lagging Span below the cloud. MACD is bearish with both its lines below the zero line. MACD is also moving lower as well, hinting of more price declines ahead.

$45.80                Sell
$39.35                Price Target
$50.20                Risk Management Stop
3 weeks Trade Duration

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