Naked Chart Trading: MU 27 Jun 2024
$Micron Technology(MU.US$ declined nearly 8% during extended trading hours after it published quarterly results and issued guidance. Despite beating the average analyst estimate for the third quarter and topping forecasts for the fourth quarter, Micron didn't deliver the blowout some investors were expecting.
Another case of share price fall after it missed market expectation despite a better than expected quarter result, showed that market/investor sentiment can overide existing financial performance, whereas the share prices actually reflected how much it value in the future.
Long term trend: Bullish
Short term trend: Bullish with possible corrective wave
Short term Fibo Analysis (Apr 2024 low to Jun 2024 high): extended trading hours prices are testing 50% around USD131, close below USD120 potentially to retest USD105 level previous support
Resistance: USD147, USD158
Support: USD120, USD105
Disclaimer
This content is for reference only and does not constitute any investment advice, and past performance is not indicative of future performance. Returns will vary, and all investments carry risks, including loss of principal. Please make your own investment decisions.
This content is for reference only and does not constitute any investment advice, and past performance is not indicative of future performance. Returns will vary, and all investments carry risks, including loss of principal. Please make your own investment decisions.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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