MU breaks below prior session low


Micron Technology (MU) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
MU breaks below previous session low
TQ Sentiment
Report Sentiment: 50% Bearish
Technical Forecast:
Overview

MU ended Thursday at 54.70 losing $1.80 (-3.19%) on high volume. Closing below Wednesday's low at 55.48, the market confirms its breakout through the previous session's low having traded $1.55 below it intraday.

Daily chart for MU
Volatility

Thursday's trading range was $2.51 (4.48%), that's above last trading month's daily average range of $1.81. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being above average.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

Selling could speed up should prices move below the close-by swing low at 52.69 where further sell stops might get activated.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a neutral sentiment for the next trading day.

Market Conditions for Micron Technology
Condition Forecast Direction Win Avg Worst Best Events
In-Neck Pattern TQ Pro Members Only
White Candle TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
Close near high of period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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