MU - a second day of gains

Whilst the main market held moderate gains into the close, there was further significant strength in Micron Technology (MU) settling +3.0% at $44.98. A second attempt to clear psy' $50.00 is due, and from there, a fast run to the 70/75 zone.


MU, daily

MU, monthly

Summary

Suffice to add... all those getting overly twitchy last week are now starting to get confident of an eventual break above the psy' $50.00 threshold. For the m/t longs, whether that is before end January, or not until the spring, it just doesn't much matter.

Yours truly remains m/t bullish to $100 by spring 2019. With an FPE in the 4s... that really isn't bold at all.