MU is sitting right at/near resistance (62) and looks like it'll make it thru, if not right away then after a pullback. That's one heck of an uptrend.
If you look at the RSI (Relative Strength Indicator) you can get an idea when it's likely ready for a pullback. In the past when the RSI has gotten above 70 for a week or two, the stock has pulled back/consolidated, and after that the uptrend continued. Today the RSI rose above 70 (70.47). In recent up legs, it got to around 80 prior to the pullback.
SNES is hanging in there so far, and is testing the 200 MA as we speak (1.18). It traded as low as 1.12 today, but then moved back to the 200 MA. After such a huge move, I wouldn't expect the 200 MA to hold. Most likely it'll pull back to 1.00, and then next support levels on the chart look like .90, and then the band from .60-.90 (the 50MA is .56 and rising). A pullback into the .60-.90 band might be a good entry/re-entry point for folks wanting to go long. Depends on the news flow though, and they currently have that ~30 day timeline to hear from the California regulators.
One contrarian play I've been following loosely is TEVA, the big generic drug company. After crashing from 70 to 11, it's been in recovery mode, boosted by the news that Berkshire Hathaway has taken a sizable position recently. It's sitting right at key resistance ~22 and looks about ready to continue higher. Once thru 22, the next resistance area should be up around 27 (there's a big gap to fill, from 22 to 27). The company isn't out of the woods yet, so I'd expect volatility in the quarters ahead, but looks like a good stock for a recovery over time. Having Berkshire in the stock is a big plus. It also had a bullish 'golden cross' several weeks ago, when the 50 MA moved backed up above the 200 MA.
AI
