Screenshot from Yahoo Finance Time Frame 1D MU
R1 - 36.5
S1 - 28.01
Graph Analysis
Now I'm going to tell you something about this chart. C1-C4 are circles where price made something very important! In C1 circle was bounce off R1 resistance line same in C2 circle. C3 circle is most important in this chart and why ? Because that was fake puncture through R1 line. Begginers could think this will be puncture through R1 line but it was not ! Be aware of this situations and better wait! Meaning of C4 is there because there price move through R2 line which means ussually price go up and there is up trend.
Short position
When you could go into short positioning ? I would recommend if price bounce off R1 and keep in short positioning till S1(support-red line) but if price go also through that line keep in short positioning till another support line or when you are happy with profit!
Long position
I would recommend go into long positioning if price go through R1 chart line till another resistance line ! But keep in mind there could be also fake punctures !
Summary
Now summary this arcticle into what you could think about ? Keep in mind that you can also try to make this technic analysis and it will help you with stocks enter and maybe also with profit. But don't make fast moves. Also my estimate for this stock ? I think price will now bounce off R1 because it's really strong resistance but just my estimate !
I'm Warning you !!
I'm not responsible for your money loses !! I'm here just for make estimates ! The trade depends on you You can just inspirate from me !! But if you lose money i will not give you money back and noone will! Stocks exchange is very hazardous have that in mind ! I'm not guarantees accuracy of any content and hence using information on this website is solely your responsibility. The article is only for informational character(nature) and should not be take(taken) as investment advice for the purchase or sale of stocks(shares) or other instruments. The reader agrees that the purchase or sale of stocks(shares) and other instruments based on the content of this article is at his own risk and liability.
Disclaimer
That all decisions the trader takes itself, and all indicated is not advice and a guarantee of profit
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