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Technology Stocks : Micron Only Forum -- Ignore unavailable to you. Want to Upgrade?

To: John Graybill who wrote (47756)	8/23/1999 4:30:00 PM
From: John Graybill	Read Replies (1) \| Respond to of 53903

MU is walking a trendline like a tightrope: Draw a line to connect the lows of June 29 (37 1/2) and July 21 (48 3/8). This line shows a rise of 0.725 points per day (over 15 sessions). MU was above this line until Monday Aug 16, when it closed below it. On Tue-Thu, it was totally below it. Friday's trendline value was 64.325, which was within the day's range. Today's trendline value was 65.05, also within the day's range. Tomorrow's value is 65.775. Conventional trading wisdom says that such a return to the trendline from the other side after breaking through it the first time is the moment of truth. Either outcome -- breaking back through the trendline the second time, or hitting it and bouncing back -- is usually a self-reinforcing action. Sure would like to know if the big volume in MU in the last 45 minutes was dumping or bargain-hunting.