By Licia Leslie
July 17, 2024
Hi Shoppers,
The Micron Technology (Ticker: MU) chart is looking a bit ugly:
MU has been consolidating or trading in a box range since June 27th.
Yesterday, it has broken out of that range to the downside, through my pitchfork support and closed below the 50 day moving average.
From here the stock will either continue lower or revisit that old support now new resistance level at $129, which is your opportunity to go short.
Use a close over $130 for your stop loss if it does decide to bounce.
The support target price is at $123.54.
Join us tomorrow night and get a peek at how I shop for cheap options.
Thanks for Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
See what's hot at option pit
CAPITOL GAINS: SMR Aug16 7 call closed for a 150% gain
DELTA STRIKE: VLY Mar15 8 puts closed for a 88% gain
PFE May17 26 calls closed for a 66% win
OP MENTORING: SPY Mar22/19 510 put calendars and 520 calls for 6.4% gain
OPTION SHOPPER: ERX Mar28 65 calls closed for a 90% gain