10.8 Thursday market overview: MU Micron pulls back from multiple tops; buy the pullback

The three major U.S. stock indexes closed with slight adjustments today, while the S&P 500 remained firmly above 7800

Recently, the U.S. storage and computing-power sectors have not performed particularly strongly, with Micron, SanDisk, and SK Hynix all making slight adjustments in unison

MU repeatedly rebounded to 1098.65 before encountering resistance and pulling back. Strong overhead selling pressure formed a multiple M-top structure, with sellers unanimously choosing this level to dump their positions

Last night, three consecutive large bullish candles pulled MU directly from the bottom at 1014 back near the top resistance, as bulls and bears switched back and forth

MU is trading within the 1098-1044 range, with horizontal support at 1065, which serves as a pivot where support and resistance switch; opportunities exist for both bulls and bears

1044 is bottom support and also the 0.618 retracement from the low to the high, creating confluence at two points; buying the pullback is viable

Take a small, low-leverage long position in advance on the left side at 1044.68, defend at the previous low of 1014, and target around 1074.68 and 1090, yielding a 1.68 risk-reward ratio

The strategy has been set; the rest is left to time as we wait for the U.S. market to open and for an entry opportunity

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