On the 2 yr d chart, MU has a Falling Channel. This is a bearish chart pattern. However, the weekly chart shows a possible Morning Star candlestick formation. This cs pattern has the potential to cause a reversal to upside, but confirmation is required. You should get that confirmation on Monday. If you get it, MU moves up
Please see http://investopedia.com/terms/m/morningstar.asp
That could just possibly be quite true. The U.S. is just as broke as Greece. We are also having problems paying our debt. That unemployment rate of 5.5% or whatever is just hogwash. Last I heard, there were 93 million people that are unemployed and 40% are no longer looking for jobs. Consequently, they are no longer counted which makes for a lower unemployment rate.
Please do not tell me I am comparing apples to oranges. It is not companies I am comparing. It is the chart patterns. I once said that MU was forming a Round Top back in January. I told those folks to look at the chart of a certain company. Some responded the same way you did. Well, guess what? MU at this time is forming the pattern I predicted. It is following the path of the other company even though they are apples and oranges.
Do I chart often?.........why, yes.........I am a chart specialist.
Small chart patterns often form inside larger chart patterns. Of course the small ones play out first. The Head & Shoulders someone here keeps talking about is a small pattern. Just look at the 5 yr d chart. Now compare it to DDD's 5 yr d chart. Do you see a similarity? You have been playing a Parabolic Curve. This is every trader's dream come true. The stock moves up fast...........but a parabola will always collapse. DDD was almost a $100 stock, but now trades at 19.50.
Nahh, I'm not following you. You wrote something negative about me, and I have done nothing to you. I just posted something here, and then you attack me. You're still angry because I inadventently answered someone else who had a similar name to yours. That's what it's all about. Why don't you just let it go. I will post wherever I like. This is not your board.
Back in Dec 2014 when MU was 36, I predicted that it would go into Stage 4 and that it would bleed. Stocks go thru 4 stages. Stage 4 is the Declining Stage. MU was actually forming a rare bearish Diamond chart pattern that began to form in June 2014. A Diamond pattern is made up of of a Broadening Top (shaped like a megaphone), a Head & Shoulders, and a Symmetrical Triangle. While everyone else thought it was only a Head & Shoulders, it was actually a rare Diamond pattern. It took 9 months for the pattern to complete and another 3 months to meet my target at 19.23. Amazing what you can see on the charts. I now see a Round Top forming, and it's possible it could reach 13.57 to fill a gap...........but only if it can break thru all other support areas. My first support area is 17; also confirmed by Goldman Sachs.
Yes, they are meaningful. It is not only a reaction to an external event, but it could also be a reaction to an internal event as well. At this time the Greek situation seems to be taking a toll on the global markets. Also, it appears the markets are topping, but maybe the central bankers will step in and save the day. They are very good at that. After all, they are the market.
Still a little paranoid? Did someone designate this board strickly to you?
I just read the report. They changed their target to 17....LOL......my 1st support area is 16.99.....O.K., I'll round it off to 17.....Now, we match !
I can't really tell. Stocks travel in waves and constantly zig zag. I'm surprised it took several months for the Diamond pattern to complete. At this time, MU is extremely oversold.
Longs better pray there aren't any lawsuits. Lawsuits are another reason why gaps are filled. The 13.57 gap needs to be filled. That gap is a warning that something is going to happen.
Down almost 16.50 since Dec 2014 when I said MU would bleed. This was just little old me going against all those great analysts. At this time, MU is extremely oversold.