Micron, fresh sell signal after a sharp drop
Micron drops 13.3% as a fresh Sell signal opens with lower lows already forming
Micron, fresh sell signal after a sharp drop
Our view last week
After a 13.8% plunge two weeks ago, Micron shares closed the past week almost flat, up 0.4%, with buyers back in control: 61% of volume on the buy side versus 88% on the sell side the week before. Price is compressed between the 20-day average, in the 1,011 area, and the daily pivot average, in the 977 area, while on the daily chart a clean double bottom in the 873 area has already produced a 47% rebound. The trade now stands at 115% profit since entry.
This week's summary
Micron shares dropped 13.3% this week, and on our model a fresh Sell signal has fired: 12th among the 140 US sell signals. Signal strength at 100 out of 100 reads "decline starting to make lower lows": a drop that's already healthy. The stock is still 259.6% above its 200-week average, after a huge run-up, and the confirmation week is still open.
IQS Phase
48
ordinary
Signal Strength
100
decline starting to make lower lows
Sizing
STANDARD
Ranking
#12 / 140
New us stocks
Trade P&L %
+0.00%
from signal to today
restricted Platinum content