Tuesday December 18th, 2018 by Mike Paulenoff MU, the 2017 into 2018 darling of the hedge fund community, reports earnings tonight after the close. If my attached condensed hourly chart back to its all-time high at 64.68 (5/30/18) is providing hints about the likely price path in reaction to the news, then the dominant 7 month down-channel should, well, remain the dominant factor governing price direction, which is down. In that MU is situated right in the middle of its channel, a negative reaction to EPS points to a target in the vicinity of 28.50 (from 34.40), while a positive reaction to earnings projects a pop towards a test of the dominant upper channel boundary line, now in the vicinity of 41.00 where intense selling interest should emerge that will have the potential to drive MU across the channel width to test the lower channel boundary line. Only a climb and close above 41.00-41.50 will neutralize the May-Dec. downtrend in MU... Last is 34.41/42Mike Paulenoff is author of MPTrader.com, a real-time diary of his technical analysis & trade alerts on ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international markets, plus key ETF component stocks in sectors like technology, mining, and banking. Sign up for a Free 15-day Trial! * I really like Mike's charts and analysis. This is shared with my readers here via MPtrader.com * Tiger's Take: "Just looking at the Micron chart now as I don't actively follow this stock. Definite downtrend here. Most likely I will still watch this one from the sidelines until this pattern gets broken."Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. Follow us and check back occasionally for additional articles or comments.