MU: Micron offering a long term long opportunity
Updated
I like the extended base that formed here, before confirming a weekly uptrend signal, according to 'Time at Mode'.
For those not familiar with the technique, it allows you to read the order flow, track the accumulation and distribution, as well as understand and time the trends present on chart, to get optimal trade entries in any market.
If you combine this powerful methodology, with fundamental analysis, market sentiment tracking, and reaction to news events, you can time entries with great precision.
MU is offering a great weekly long trade here, potential is considerable for this stock, and I'm looking to capture the emerging uptrend I anticipate will take place from here onwards.
Enter longs at market open, if we get a dip towards 10.50 or near that level, add to the position. Risk a drop to $10, for upside well over $14.30.
If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers,
Ivan Labrie.
For those not familiar with the technique, it allows you to read the order flow, track the accumulation and distribution, as well as understand and time the trends present on chart, to get optimal trade entries in any market.
If you combine this powerful methodology, with fundamental analysis, market sentiment tracking, and reaction to news events, you can time entries with great precision.
MU is offering a great weekly long trade here, potential is considerable for this stock, and I'm looking to capture the emerging uptrend I anticipate will take place from here onwards.
Enter longs at market open, if we get a dip towards 10.50 or near that level, add to the position. Risk a drop to $10, for upside well over $14.30.
If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers,
Ivan Labrie.
Trade active
Went long at the open.Note
We can add to longs if we hold above the key earnings support. We're right at the weekly mode, so it's an ideal level to accumulate long positions for the long term. The market is acting like the previous rally from this PSR level, pretty much the same price action. It's a long term trade, I'd reccomend buy writes, to protect positions, and not using stops.Note
Micron is at an interesting spot, PSR has been this low at every bottom
buying if up for the day would be wise
if it crosses 10.48
it would open up to massive upside.
Note
Selling options has worked well here, if you sold covered calls, you should have been able to weather this decline.Note
Beautiful.Note
This is a good exit, partial at least.Note
Hard to get such a trend going again, we remain in a more choppy market enviroment currently.
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