Micron readies to breach important support - Analysis - 19-10-2018

Micron Technology's stock fell in the intraday levels, amid negative pressure from the 50-day SMA, leaning on the important support of 41.20, which represents the ratio 61.8% of Fibonacci retracement levels for an ascending wave in the short term (from 26.85 to 64.66), recording a loss of 2.48% in the last session, or 1.05 points. 

Therefore we expect more losses for the stock, especially if the support of 41.29 was breached, targeting the next one at 35.77, which represents the ratio 76.4% of the same retracement levels. 

Expected trend for today: Bearish