Micron Technology (MU)

[JLS]

MU already reached $38.40,

The High for the day is currently $38.86 while the low of four days ago is $34.09, for a difference of $4.77. The upper tine of the fork for today is $38.50. Therefore, I think today is the high for this cycle.

A pullback of 23.6% of $4.77 would put MU at $37.73.

Going forward I expect MU to head toward the middle tine with some downward slant. Perhaps trade below $38 (the Calls I sold) by the middle of next week. Those Calls expire next Friday.