$MU is looking to break above prior high resistance in this “Go” trend.
After breaking out of an extended Max GoNoGo Squeeze a few weeks ago price shot up to over $170 on a run of uninterrupted bright blue bars. After the high, we saw a Go Countertrend Correction Icon (red arrow) as momentum fell out of overbought territory. This indicated that price may struggle to go higher in the short term and indeed we saw weaker aqua bars as price fell from the high. If we look at the oscillator panel, we see that GoNoGo Oscillator fell to test the zero line from above and quickly found support on heavy volume. With GoNoGo Trend once again painting strong blue bars, we see a Go Trend Continuation Icon (green circle) telling us that momentum is resurgent in the direction of the “Go” trend. We will watch to see if this gives price the push it needs to climb to a new higher high in the coming days.
