MU: Micron Inc death cross
The purpose is to analyze DEATH CROSS impact on MU day chart. It is remarkable that this time a death cross print is almost simultaneously by both 50&200 EMA and 50&200 SMA with a lag of just one day. As a rule, I look for a death cross whichever moving average pair print it earlier, as the other pair would be typically too late to the show (it can be 'either or' depending on magnitude of most recent price actions for EMA pair).
This time both pairs print it simultaneously and I would argue that this time both are REMARKABLY late! As a matter of proof, I analyzed RELATIVE slope of MU bear markets that with a death cross, versus percentage the price had yet to retreat since the death cross print day until bottomed.
There were approximately few of them (scroll back the chart to certain periods indicated below).
November’14 – February’16 ~65%
May’18 – December’18 ~32%
April’21 – October’21 ~12%
January’22 – September’22 ~30%
And current June’24 – September’24 ???
On the right hand side of the chart, relative slopes of each bear market trendline are given. Looking at a relative steepness and rapidness of the June – September decline comparing to past periods, I would consider that this time both pairs of moving averages are lagging way behind and the death cross is too late to the show to indicate any extra percentage of price decline. i.e. the stock has bottomed and is already in upswing.
This time both pairs print it simultaneously and I would argue that this time both are REMARKABLY late! As a matter of proof, I analyzed RELATIVE slope of MU bear markets that with a death cross, versus percentage the price had yet to retreat since the death cross print day until bottomed.
There were approximately few of them (scroll back the chart to certain periods indicated below).
November’14 – February’16 ~65%
May’18 – December’18 ~32%
April’21 – October’21 ~12%
January’22 – September’22 ~30%
And current June’24 – September’24 ???
On the right hand side of the chart, relative slopes of each bear market trendline are given. Looking at a relative steepness and rapidness of the June – September decline comparing to past periods, I would consider that this time both pairs of moving averages are lagging way behind and the death cross is too late to the show to indicate any extra percentage of price decline. i.e. the stock has bottomed and is already in upswing.
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