The tight consolidation span in the AI trade is bound to break soon, and despite the period of seasonal volatility for stocks being on our doorstep, we have a bias to expect the break to be to the upside.
Take $Micron Technology(MU)$ for example. The stock has been gyrating between $900 and $1000 for months, but with momentum indicators moving higher from July lows, the Bollinger Band width back to multi-year lows, performance relative to the market regaining a positive slope, a fundamentally strong backdrop, and the period of seasonal strength for the stock upon us, there are more signals to bet for a breakout than a breakdown. $VanEck Semiconductor ETF(SMH)$ $Roundhill Memory ETF(DRAM)$ $Technology Select Sector SPDR Fund(XLK)$
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