Happy Wednesday, everyone – hope you're surviving the week so far.
Yesterday was a quiet one. MU closed at $1154.29, up 0.79%. Traded between $1168.68 and $1124.66. Volume 42M – lighter than recent action.
Pre-market is showing around $1115.89, down about 3.3% from yesterday's close. That's a noticeable pullback, but nothing too wild given the recent run.
Here's the GEX (July expiry):
Put Wall $1000, Call Wall $1200, gamma flip around $1099. Yesterday's close at $1154 was sitting above the gamma flip but still below the Call Wall – positive gamma but not by a huge margin. [GEX? Never heard of it? Here ya go >>](https://www.moomoo.com/us/learn/detail-gamma-exposure-gex-understanding-dealer-hedging-flows-and-key-levels-107906-260473079?global_content=%7B%22promote_content%22:%2211067213%22,%22promote_id%22:20795,%22promote_type%22:43,%22sub_promote_id%22:1%7D)
Technically, price is still above the middle Bollinger band (around $1070-1080). RSI in the 50s. MACD still slightly negative – momentum is neutral at best.
Above $1200 and the Call Wall becomes support – $1250-1280 could come next. Below $1099 and the gamma flip turns into resistance, with $1050-1000 as the next zone.
Pre-market at $1115 is dipping toward the gamma flip. Let's see if that level holds at open.
Guess we'll just have to pray and see how tonight plays out lol. Curious where everyone's leaning – does the gamma flip hold, or do we test lower first?
DYOD🫡