MU weekly chart for Memory & Storage. Latest close $979.30; weekly move +0.4%.
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10-week defended so far. If this builds a base next few weeks similar to the March base it could become very interesting. But not yet
From A market between moves·
MU weekly chart for Memory & Storage. Latest close $979.30; weekly move +0.4%.
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Watching top of the base pivot as a guide for entry. Might attempt on weakness if we see a gap down and stuff seems to be getting bought. Top focus because memory is still strong, and the shakeout candle 2 weeks ago. Wyckoff taught me to pay attention to shakeouts... even though I fumbled GEV, the shakeout in its prior base was why I was so focused on it.
MU weekly chart for Memory & Storage. Latest close $420.59; weekly move +14.8%.
Focus because of the base, shakeout candle, fundamentals, has all the ingredients. I may add if it pulls and retests the base pivot ~430.
Current position focused on managing this week. If it starts to gap and go again I will trim a little into it. Gets hard to manage when it does this so hopefully it rests this week.
Current position.... very extended and first signs last week of needing to rest. I've taken partials twice now.... ideally I can sit through a little consolidation. If gets too volatile I will likely toss and buy back.
Current position. So far successful 4-week support. Still trading in a tight range. Do we see a follow through next week or get a 3rd week tight?
This is my top priority managing this position. Just like 4 weeks ago after a straight up move we digested and pulled back to the 4-week. Thats healthy action and expected, and my goal is to pad my equity curve with my other positions if needed to continue to sit with this. I am watching the 4-week for an exit on a closing basis, or if this ends up displaying parabolic climactic action selling more into strength.
This is my current early cycle winner that I wanted to protect my cost and let it tighten up and rebase if possible. The plan was to watch for either a climactic blow off top, or let it pullback and close above the 4-week. After last week we are basically at the 4-week already and reviewing last week's action this potentially could be the top since it closed weekly low on its highest dollar volume ever. If we open tomorrow gapped higher by any chance, I will likely exit half of my remaining $MU. Then try to watch and see if the rest has a chance to end the week over the 4-week. If we gap lower tomorrow, I will be watching for possible bounce and reclaim to make decision on remainder of my shares.
The past week looked really rough for MU and the market. After Friday's action, I used the gap up Monday to unload more incase we didn't recover. Then trimmed more throughout week. In hindsight looking at this chart, we never broke the 4-week again. Its acting very well.... last week could have been an add opportunity but I was trimming. Plan for the rest of this is to ride the rest using 4 week on a closing basis.
Continues to ride the 4-week. They report earnings Wednesday. Will be interesting for sure..... I will be holding.
Continues to ride the 4-week. This is guidance for the whole AI infra and semis trade. Original plan has been the 4-week on a closing basis to exit. I may give this an opportunity to base sideways.
10-week defended so far. If this builds a base next few weeks similar to the March base it could become very interesting. But not yet
MU delivered amazing earnings and was sold anyway, which is one of the clearest signs that the market is not behaving well. Same story as SNDK. I believe we see a big bounce before breaking lower, so I'll be watching to see if it finds continued resistance at the declining 4-week, potentially eyeing a short.
MU is currently acting stronger than SNDK and SNDK was definitely the leader in memory. But for now, MU is acting stronger and it was looking like it was going to be added back to my focus last week until Friday. Now it looks like potentially it's being rejected by the 10 and 4 week moving averages. So continuing to watch to see if this goes sideways and tightens up or further breaks down.
The chart despite the distribution over the last few weeks looks constructive at the moment. This can keep going sideways another few weeks and rebase and it would become a top focus again.
We will find out if memory finds resistance and pulls in a bit builds a higher low before going higher or if it just continues to break out. I dont have the best entry here so if it pulls in first I am prepared to exit & buy it back
Holding up well for now just weak group at the moment. I wouldnt be suprised if this is topping or ends up being a base before another leg higher. Not interested yet.
Higher low, new weekly closing high from its basing area and above all key MAs. Interested in retest of 970 pivot or $1000. Ideally sees follow-through this week.