MU will trigger a short entry on a break below this bearish rising wedge pattern. With all broad market trend indicators currently bullish, more conventional traders may decide to wait for a solid close below the pattern before establishing a position while more aggressive traders might opt to initiate a full or partial position on any intraday break of the pattern while bringing the trade to a full position once/if MU prints a solid daily or weekly close below the pattern. I’ve added a support level (S1) around the 22.20 area where an initial reaction is likely although I would expect any bounce there to be fleeting. T1 is the current first and only target although I may extend the final target to the potential T2 or T3 levels shown on this daily chart.

I have also put together a video on the MU setup which explains the reasoning for adding MU as a trade setup as well as the methodology used in determining the price targets on this & most other trade ideas.  

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