MU - Micron: Short Term Sell Signal But Long Term Buy Signal (Technical Analysis)
2024-06-30 12:32:54 ET
Summary
- Micron (MU) dropped post-earnings, triggering a buy-on-weakness signal with SID Buy Signal and continued inclusion in our 2024MP Model Portfolio.
- MU outperforming Index trend, likely to attract portfolio managers adding to positions on pullback, identified support levels on the chart.
- Chart signals will show bottom for buying on weakness when portfolio managers start buying again at lower prices.
Micron (MU) just dropped after reporting earnings, and we think this will trigger our buy-on-weakness signals because it has our proprietary Stocks In Demand or SID Buy Signal and is already in our 2024MP Model Portfolio. The charts below show the short-term Sell signal on the daily chart and the longer-term Buy signal on the weekly chart....
Micron: Short Term Sell Signal, But Long Term Buy Signal (Technical Analysis)