Replies to post #1746 on Micron Technology (MU)

[JLS]

So far, going as planned.

$42 holding as resistance, but it was tagged a few times today.

MU isn't ready to justify a fifth tine. I have one drawn (only because it was convenient to stack two forks) but I think MU is more likely to drop below the fourth tine (from the bottom) and stay there for the foreseeable future (as I'm not opposed to MU bouncing around between the third and fourth tines).

I also think it is possible (perhaps likely) that MU tests SMA(20) again but stays above (and hopefully doesn't repeat what it did during July and up to mid-August). Unless MU starts rising more rapidly, which I think it won't do, then SMA(20) should flatten as time goes forward. So, unless MU makes a sharp dip, that moving average won't be tagged for several more days. And at that time, MU can start closing above $42 and not trade above the fourth tine.