MU is not a buy as it trades below the 50-day moving average; momentum names should be avoided when below this level.
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Thank goodness MU did not close well because I have no MU. I have no MU. Why? Because, you know, look at how this closed again. They sold strength. Uh this 1042 got rejected if you remember last week and um and on Friday the action wasn't telling me there's any reason to be in these things because the market's kind of faulty and we're not acting special.
So you have risk a little bit lower. So now what? Okay, let's see what what was this low here. This low here was 967 or 960. So um I guess we'll see um is you know do the bears have any power?
If the bears have some power. Actually, here's a 50-day. 50-day is right there. 934, right? Where is MU right now? Um, this is like 934. MU this morning is uh a little bit below it.
So, MU is below the 50-day. You want to be in momentum names when they're above the 821 day. You don't want to be when they're below the 50-day. If you're an investor in MU and you've been in MVU for two years, that's different.
Okay. If you've been trying to hold a swing trade, which I was here, you know, and maybe you sold some strength on day three, I guess there's a small reason. So, if you have a little of this on, I get it.
You know, forgive yourself. Question is, um, you know, is it going to open up, um, down 48 and go green or is it going to open up down 48 and, you know, continue to be lower in the second part of the day? That's our job as active trades to figure out.
So what we'll do is we'll look here and we'll see, you know, what happens in the spies and the Q's and and the SMHs and and uh do buyers show up for MU or even SanDisk.
I showed you mu. I showed you SanDisk. You could correlate mu to MU or SNX to SanDisk. Um, I do think the key for, you know, for SanDisk now, I mean, for for MU is um the 50-day, which is below, and then uh we'll see does this want to, you know, does this want to break this ascending channel? If it does, gotta gotta get out of the way.
Watchpoints
What this channel has said about $MU
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