Micron Technology (MU)

[JLS]

Break upward?

Got me confused. MU traded quite a few shares above $41.50 going into the close.

Within the last 10-min before the close, most of the trade was above $42, but that's not a breakout.

Looking at all the pre- and after-hours trade for last week, I couldn't see anything that reliably predicted regular-hours trade during the following day.

So what did I see today?

MU produced a Hammer candlestick during regular hours. That's bullish when it breaks out, and it has very high reliability. My backtesting of hammers shows that it is more bullish if it has a green body, which it does. But it has resistance $2 higher. Will it break out on Monday? I don't know, but I suspect it will. Will have to wait and see then invest accordingly on Monday.