Bias: Bullish
Entry zone: $418.50 – $423.74
Stop-loss: $358.66
Target 1 (resistance): $455.50
Target 2 (primary): $568.10
Estimated R:R: ~1:2+ (to primary target)
Trade thesis:
MU remains in a structurally healthy uptrend with ADX (~38) confirming strong directional momentum and RSI (daily / 1h ~61–62) indicating positive but not overextended momentum. Price continues to trade above key long-term moving averages, reinforcing the continuation structure. Recent pullbacks have occurred on muted volume, suggesting orderly consolidation rather than distribution and supporting a new long entry within the defined zone. Sentiment remains constructive (broad positive semiconductor coverage and supportive demand narrative), providing an additional macro tailwind to the setup.
What to watch:
Monitor price behavior near $455.50, where participation and volume expansion should confirm continuation toward the primary target. A shift in order flow, deterioration in sentiment, or loss of structure toward the $366 support region would weaken the thesis. Under the current quieter volatility regime, upside progression may be gradual, but the combined trend strength, consolidation profile, and constructive sentiment support a bullish continuation positioning.
Entry zone: $418.50 – $423.74
Stop-loss: $358.66
Target 1 (resistance): $455.50
Target 2 (primary): $568.10
Estimated R:R: ~1:2+ (to primary target)
Trade thesis:
MU remains in a structurally healthy uptrend with ADX (~38) confirming strong directional momentum and RSI (daily / 1h ~61–62) indicating positive but not overextended momentum. Price continues to trade above key long-term moving averages, reinforcing the continuation structure. Recent pullbacks have occurred on muted volume, suggesting orderly consolidation rather than distribution and supporting a new long entry within the defined zone. Sentiment remains constructive (broad positive semiconductor coverage and supportive demand narrative), providing an additional macro tailwind to the setup.
What to watch:
Monitor price behavior near $455.50, where participation and volume expansion should confirm continuation toward the primary target. A shift in order flow, deterioration in sentiment, or loss of structure toward the $366 support region would weaken the thesis. Under the current quieter volatility regime, upside progression may be gradual, but the combined trend strength, consolidation profile, and constructive sentiment support a bullish continuation positioning.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.