Micron Technology (MU) – Potential Double Bottom Forming
I'm seeing the early stages of a double bottom pattern forming in Micron's (
MU ) price action.
While the stock remains under the 150-day SMA at $112, a breakout above the $90 neckline could signal a reversal with an upside target around $140—a potential 55% gain.
This setup is still far from confirmed and represents a high-risk trade, but it could be a significant turnaround for Micron.
A key factor to watch is Micron's earnings report next week, which could provide the momentum needed for a breakout. Micron has consistently beaten expectations and raised its outlook, so the upcoming earnings might be the catalyst for a major price jump.
What are your thoughts on this potential turnaround? Do you see Micron's earnings fueling a breakout?
Disclaimer: This idea is for informational purposes only and is not financial advice. I am not a professional, and you should do your own research or consult with a licensed professional before making any investment decisions.
MU ) price action. While the stock remains under the 150-day SMA at $112, a breakout above the $90 neckline could signal a reversal with an upside target around $140—a potential 55% gain.
This setup is still far from confirmed and represents a high-risk trade, but it could be a significant turnaround for Micron.
A key factor to watch is Micron's earnings report next week, which could provide the momentum needed for a breakout. Micron has consistently beaten expectations and raised its outlook, so the upcoming earnings might be the catalyst for a major price jump.
What are your thoughts on this potential turnaround? Do you see Micron's earnings fueling a breakout?
Disclaimer: This idea is for informational purposes only and is not financial advice. I am not a professional, and you should do your own research or consult with a licensed professional before making any investment decisions.
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