MU - Earnings Drama
$MU has been of high interest today, due to earnings. Noise aside, let’s take a look at the daily chart, and what it means for the stock going forward.
Clearly, the trend is rising. For trend followers, or for those who are currently holding shares of this stock, $MU is, without a doubt, a hold. More aggressive trend traders can place a stop loss below the 50MA, and more conservative trend traders can place a stop loss below the 200MA. As of the time of writing, we are long $MU.
Bias: Bullish (Daily)
Stop (Aggressive): $32.00
Stop (Conservative): $25.92