Micron Technology, Inc. (NASDAQ: MU)

Micron Technology, Inc. provides semiconductor systems worldwide. It operates in four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. The company offers DDR4 and DDR3 DRAM products for computers, servers, networking devices, communications equipment, consumer electronics, automotive, and industrial applications; mobile low-power DRAM products for mobile phones, tablets, embedded, computers, and other mobile consumer device applications.
Take a look at the 1-year chart of Micron (NASDAQ: MU) with the added notations:

MU’s trend has been simply downward since the start of the year. However, the stock found it’s footing in August and started moving sideways. In addition, over the past 4 months MU has formed a key support level at $14 (green), while also forming a trendline of resistance (red). At some point, one of those two lines will have to break.

The Tale of the Tape: MU has an important level of support at $14. A trader could enter a long position at $14 with a stop placed under the level, or on a break through the trendline resistance. If the stock were to break below the support a short position could be entered instead.