Is MU trading within a rectangle?

Yes, Micron Technology (MU) is currently trading within a rectangle pattern. This pattern is characterized by a horizontal support level and a horizontal resistance level, within which the price of the stock is moving back and forth. The rectangle pattern is often seen as a period of indecision among investors, as the price remains confined to the support and resistance levels without making significant progress in either direction.Traders may use this pattern to try to capture profits from the range bound movement, or they may wait for a breakout from the rectangle, which is expected to occur eventually. When the price breaks out of the rectangle, it is considered to be trending in the direction of the breakout. However, it's important to note that not all breakouts are successful, and the price may fall back into the rectangle after an initial upward breakout, leading to a failed breakout.In summary, Micron Technology (MU) is currently trading within a rectangle pattern, which is a technical analysis pattern indicating a period of investor indecision. Traders may use this pattern to make profitable trades by buying near support and selling near resistance, or by waiting for a breakout from the rectangle and using the measuring principle to predict future price movements.