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Stock Of The Day: Is This The Top On Micron?

1. Micron's Q3 EPS was $1.91, exceeding estimates of $1.60. 2. Micron's stock is facing resistance at $130 and $156 levels. 3. Previous buying interest at $130 has turned into selling pressure now. 4. Traders are cautious due to past losses near former resistance points. 5. Concerns in the market echo previous downturns like the 2008 crisis.

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FAQ

Why Bearish?

Despite strong earnings, resistance levels and selling pressures overshadow positivity. Historically, similar situations led to prolonged downturns, such as after major sell-offs.

How important is it?

Earnings beat is positive but overshadowed by resistance concerns, affecting investor sentiment.

Why Short Term?

Immediate selling pressure can impact prices rapidly; historical patterns show quick shifts post-resistance breach.

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