Micron tries to vent off oversold saturation - Analysis - 12-10-2018

Micron Technology's stock was buoyed after the support of 45.76 held its ground, representing the ratio 50% of Fibonacci retracement levels for an ascending wave in the short-term trading (from 26.85 to 64.66), as the stock vented off oversold saturation in the RSI, scoring a profit of 0.87% in the last session, or 0.36 points, amid negative pressure from the 50-day SMA. 

Therefore we expect the stock to return lower, as long as the resistance of 45.76 holds on, 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 mentioned above. 

Expected trend for today: Likely Bearish