CFD Trading – Buy Micron Technology Inc (MU.NAS) at $50.80. Stop at $49.00 and Target at $54.85.

Micron Technology Inc.  Stock Code MU.NAS

Price broke above the cloud back on 8 October and reached a high of $54.85 on 22 October.  After reaching the high, a price correction has brought price down to $49.30. The low was also at the lower edge of an uptrend channel, keeping the uptrend intact. Conversion and Base lines had a bullish crossover earlier, hinting of a bullish trend. Lagging Span is above price of 26 days ago and above the cloud at the moment and hint of a bullish trend. MACD is bullish and rising, which is hinting of a bullish price trend ahead. We think the correction is over and price is likely to move towards the upper edge of the uptrend channel.

$50.80                Buy
$54.85                Price Target
$49.00                Risk Management Stop
3 weeks              Trade Duration

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