TURNMIRE TRADING NEWS MINUTE
MU Gone Parabolic
Micron Technology (MU) has been on a solid bull for most of 2023, swept up in the AI frenzy along with stocks like NVDA and SMCI.
And year-to-date it’s already up 54%.
But about 6 weeks ago it really kicked into overdrive, taking on the “straight up” parabolic shape that Jeffry often warns about.
It’s particularly relevant, because MU did a similar parabolic spike/crash cycle back during the early 2000’s DotCom Boom/Bust.
So we thought we’d ask Jeffry to weigh in on MU and what he sees coming up for it.
His answer was fairly surprising.
While he did warn of some potential danger:
“Look at the pullbacks that one has done. It is likely to do another in the future.”
He did give us an upside target between $137 and $161.
With the stock currently trading around $127, there still seems to be some room in this one. But only if you’re feeling lucky. (trade with caution!)
— The Jeffry Turnmire Trading Team
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