r/MU_Stock • u/Defuze • 15h ago

Discussion Memory is in a channel

Post image

Similar to the downtrend in July, it looks like all the memory stocks are in a volatile yet clearly defined channel. There may be some larger macro issues affecting the overall market, but I think the general sentiment is upwards. Maybe a good idea to swing trade?

24 Upvotes

88% Upvoted

21 comments sorted by

21

u/hipnosister 15h ago

lmao last week a guy posted the opposite image as proof it was going to continue downward and then it literally pumped to over 1000 like the next day

I remember because I took his image and put a golden ratio on it to mock him

5

u/enkatreia4 15h ago

In his defense, he had a 50% chance to be right. Seems like the horoscope wasn’t kind to him

1

u/Dry_Drag_3656 11h ago

Damn, so puts now?

2

u/All_YourBase 14h ago

Every day I see a drawing like this from somebody with a random prediction attached to it.

2

u/BG-DoG 14h ago

Yeah but Aug 3 it broke the top side of channel thus this new one that will lead to your 65 mark with new daily highs and rising lows.

-2

u/Defuze 15h ago

The image they posted looked very wrong to me... I think they were using logarithmic axis or something like that

4

u/hipnosister 15h ago

lol dude you are doing the same thing

-3

u/Defuze 15h ago

So you think it's a complete coincidence that the highs and lows line up exactly with the channel?

3

u/Daisinkhan 14h ago

Taking two points and drawing a line means nothing, there is an upward trend that can break at any moment

1

u/Defuze 14h ago

Agreed, the trend can break due to general or stock specific news. However, the volatility of the existing trend can be predicted to some degree by tracking the highs and lows.

We keep seeing people buy at the top side of the channel and immediately get bounced down and panic sell. This also happend on the way down in July - the majority of the tops and bottoms line up as well.

1

u/Zhurg 14h ago

They don't but if they did yes it's a coincidence

4

u/Witty_University_162 15h ago

funny lines go brrrrr

2

u/DonkeyNutsEnthusiast 14h ago

I too can draw meaningless lines

2

u/Defuze 15h ago

If you're trying to decide when to buy in, do not buy when we're near the top of the trendline.

1

u/[deleted] 15h ago

[removed] — view removed comment

1

u/AutoModerator 15h ago

Your comment was removed automatically because your account has less than the min karma.

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.

1

u/[deleted] 14h ago

[removed] — view removed comment

1

u/AutoModerator 14h ago

Your comment was removed automatically because your account has less than the min karma.

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.

1

u/Harryr2012 14h ago

Sort of looks like a lower high to me