Bullish – MU $42.62 – Technology
The bullish DailyPlay we chose for Wednesday, Aug 7th is Micron (MU). MU is part of the Technology Sector (XLK). XLK has rallied 2.94% lower over the past month and its 1m trend turned bearish on Aug 4th and just bounced higher off its $75 support level after being oversold.
Micron’s 1m and 6m trend turned bullish on June 27th and recently bounced higher off its $42 support level. With a technical score of 8 (out of 10), MU is a strong stock that will likely continue higher.
As a stop loss, if MU was to trade below $42 for multiple days, this would invalidate our analysis and suggest cutting losses on the trade.
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