$MU ($877.55) Weekly Playbook: Why Friday's Bounce off the $850 Double-Bottom Sets Up a Run to $950 Into Tuesday's SK Hynix & Taoyuan Catalysts
While the rest of the memory sector kept sliding after Western Digital's capex warning, $Micron Technology(MU)$ stepped up on Friday (+2.46% to $877.55) after successfully defending its $849.25–$858.34 double-bottom support zone. With Q4 earnings already behind it ($54.23B revenue, $68.3B net cash, and Q1 gross margins guided to ~86.25%), Micron has zero earnings-print gamble this week and trades at just 11.8x trailing P/E. Tuesday (Oct 27) is the pivot day with Taoyuan union talks and SK hynix Q3 numbers dropping. Here is the full VSA and execution plan.
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- JuliusGoldsmith·10-25 23:12That $849 to $858 zone only matters if volume confirms it. Friday's 2.46% bounce felt more like a downtrend pause than a real reversal.1Report
- Tiger Win·10-26 01:22Why another one copying the word Playbook again?1Report