Micron Technology (MU) at a crossroads

Readers will see that Micron has lived within the confines of an upwards sloping Pitchfork model dating back to late last October. Though there remains an unfilled gap from March that would need the stock to trade at $93 to fill, MU has been able to find the support it needs repetitively at its 50-day SMA, despite an apparently volatile month or so. The stock here, while still riding that 50-day line, is in danger of completing what could be the right shoulder of a head and shoulders pattern. That would be bearish. The RSI is neutral. The daily MACD is still quite bearish looking. Here our upside pivot is $157. How will we know whether the bullish Pitchfork or bearish head & shoulders are in control? It will be all about holding that 50-day line.