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How To Make The Most Of The Micron (MU) Breakout With Proper Execution


The chip industry remains a hot one and we have one stock that has already shown a break out that could be on its way higher. Micron Technology (MU) made a strong move through not one, but two levels of resistance after a long period of consolidation, aided by the move higher by the overall market. However, MU is worth a special look as it makes a strong move higher past a well-defined resistance area of 65-65.50.

A move like this is worth noting, but at the same time a good entry is key to getting the most out of your trade. A pullback to this resistance, now turned support, level would present the best risk vs. reward, rather than just chasing the stock higher on a break out. Chasing could set you up for hitting a stop loss for those who set one before entering a trade, something I strongly recommend doing.

In order to avoid this happening in the event of a pullback, you’ll want to exercise your patience and wait for this pullback to take place. Alternatively, you can scale into your position and avoid going full size upon entry. That way, if there is a pullback you can then use that to add, eventually bring your position to its full size.

There are many ways to skin the cat, however, exercising discipline will help you get the most out of the move.

Learn to find these levels for yourself when you join The Profit Machine. There, you’ll learn all about my favorite stocks, setups, strategies, and plenty more. You’ll also be invited to weekly webinars where I answer questions and go over important trading lessons, like the one in today’s article. The best part, you’ll also receive live trade alerts. Not only will you get a world-class education, but you’ll earn while you learn.

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Good Luck With Your Trading!

Christian Tharp, CMT

Christian Tharp

I am an expert stock market coach having helped over 4000 beginner and advanced traders & investors from around the world take control of their financial futures. I also write stock market related articles for the Adam Mesh Trading Group. My Chartered Market Technician (CMT) designation substantiates me as an expert in areas such as the technical analysis of stock trends, market indicators, cycles, price patterns, Elliot Wave principles, Candlestick charting, analyzing financial trends and behaviors, portfolio strategies, and forecasting future price movements. With my straightforward approach to simple, systematic trading, students learn how to strategically assess buy signals and market entry timing, establishment and management of stop losses, and how to employ a simple and disciplined trading approach that creates profits.

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