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Technology Stocks : Semi Equipment Analysis
SOXX 312.18-0.2%Dec 9 4:00 PM EST
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To: Donald Wennerstrom who wrote (76193)7/4/2017 11:25:26 PM
From: Return to Sender1 Recommendation

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Donald Wennerstrom

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MU from a strictly technical standpoint traded below its upward trend line on the daily chart on Monday.



The stock is right at its upward moving trend line on the weekly chart.



In addition the monthly chart shows the stock has undergone a high volume reversal.



I am not saying the stock could not trade significantly higher but... the charts speak for themselves. If I had a position and was hoping for higher prices to sell MU into I would be hoping for the stock to start recovering right away.

MU needs to get back above the daily trend line. Otherwise previous support becomes resistance.

RtS
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