[Analysis] Micron (MU)(US)
Chips shortage is the talk of the town! Demand in Semiconductor is higher than ever.
The current 30% retracement on Micron from its high at 96.5, is a great opportunity for investors and traders who are looking to get in. Lower revenue for 2019 and 2020 might seems worrying but, Q1 to Q3 2021 earnings hint that Micron is on the right path for recovery.
69.00 is the immediate support but a further drop to the consolidation some at 58.00-64.00 is highly possible. Traders/Investors should have plans if such a scenario occurs.
Anything below 55.00 is dangerous and we should not be held beyond that.
We love to buy low sell high, but we buy low on uptrend counters!
The current 30% retracement on Micron from its high at 96.5, is a great opportunity for investors and traders who are looking to get in. Lower revenue for 2019 and 2020 might seems worrying but, Q1 to Q3 2021 earnings hint that Micron is on the right path for recovery.
69.00 is the immediate support but a further drop to the consolidation some at 58.00-64.00 is highly possible. Traders/Investors should have plans if such a scenario occurs.
Anything below 55.00 is dangerous and we should not be held beyond that.
We love to buy low sell high, but we buy low on uptrend counters!
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