MU closes lower for the 2nd day in a row
Moving lower for the 2nd day in a row, MU finished Monday at 51.65 losing $0.58 (-1.11%) on low volume. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session.
Monday's trading range was $1.16 (2.22%), that's far below last trading month's daily average range of $2.44. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 51.10 and 53.49 which it has been in now for the last three days.
After having been unable to move lower than 51.58 in the previous session, the share found buyers again around the same price level today at 51.32.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying could accelerate should prices move above the nearby swing high at 53.49 where further buy stops might get triggered. As prices are trading close to April's high at 53.50, upside momentum could speed up should the market mark new highs for the month.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being very bullish.
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|Low close to previous low||TQ Pro Members Only|
|2 Consecutive Lower Closes||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
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