Micron (MU) – Selloff Provides Opportunity – Aug 7th, 2019

The bullish DailyPlay we chose for Wednesday, Aug 7th is Micron (MUWealth Strength IndexAAPL is Extremely Up and trending Up). MUWealth Strength IndexAAPL is Extremely Up and trending Up 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), MUWealth Strength IndexAAPL is Extremely Up and trending Up is a strong stock that will likely continue higher.
As a stop loss, if MUWealth Strength IndexAAPL is Extremely Up and trending Up was to trade below $42 for multiple days, this would invalidate our analysis and suggest cutting losses on the trade.