7.24 early-morning MU market analysis — Shiyuan’s view

On the 4-hour timeframe, after starting strong upward movement from the low point of 837, MU recently made a new local high of 1,012 and is now at 991. After a round of the main upswing, it has seen modest consolidation and range-bound movement at the high level. Overall, the bulls’ momentum remains sufficient, and in the short term the focus is on technical pullback/pausing after the rise.

Resistance: 1,012, 1,025; Support: 970, 950

Suggestions:
1. If price pulls back to and stabilizes in the 968-975 range, you can consider long entries. Stop loss: 945. First target: 1,010. After a breakout, look toward 1,025;
2. On the first touch of 1,010-1,012 where it faces selling pressure, you can try a small-position short for a pullback. Stop loss: 1,027. Target: around 975.

Summary

The medium- and long-term bullish trend is stable. In the short term, there is still a need for profit-taking and retracement at high levels, so prioritize pullback entries to go long. If there is an effective breakdown of the 950 support, then adjust the approach and switch to high-short operations. For trading, it’s essential to strictly set stop-loss controls to manage drawdowns. $MU