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Is Micron Finally Ready to Move?On Tuesday, we cited the pullback in the Philadelphia Semiconductor Index. Today, we’re looking at a member stock that’s been dead in the water all year: Micron Technologies. Worries about the Covid recession have dragged on the memory-chip maker, despite strong results. Analysts at Deutsche Bank and Citi also think pricing will improve over the winter. MU’s chart has some potential positives for the bulls. First is the falling trendline between the February and July highs. It broke that line three weeks ago and is now revisiting it as support. (Similar to the iShares Trust China Large-Cap ETF pattern on Monday.) Second, MU’s 50-day simple moving average (SMA) just rose above its 200-day SMA: a “golden cross.” There are also potential fundamental tailwinds given the strong industrial data this week from the U.S. and China, plus the upcoming iPhone 12 ramp. Traders may want to keep an eye on MU for a potential breakout. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NASDAQ:MU
by TradeStation
2
II-VI Fails Support Line of Trend: Outlier or meaningful?IIVI was cited as a LONG with a strong upward trend in its trading channel, but it has since failed the support line of that channel. For this trader at least, that represented a partial-exit from the position. That is not advice, but the decision was made to shorten my position on II-VI even as it has only descended a still-significant 1.59% on the trading day (MON). If II-VI returns to the channel within a trading day or two, this could just be an outlier and not statistically significant: The relation would be to the overall downward trend of the S&P 500 itself, which suffered a miserable Monday and is showing some signs of further weakening, even. This is not just to sound some doom alarm, but the overall buyer confidence throughout most market sectors is low, even with IIVI playing a massive role in Apple's 5g networks. The strength of this stock longer-term could still be immense, but it just failed the support line. Happy trading. -BDR Post Note: 3 links to previous Ideas Re: II-VI present here.
IShort
by BDRTrigger33
Crown Castle, as both a REIT and 5G play looks ready to moveCrown Castle is first a REIT and then a 5G play. The industry is ramping up infrastructure and will do well in the years following as the tower provider leases more and more capacity to the new 5G rollout. Given the surge in Work From Home (WFH) as well as continued advances in technology, 5G will be the mainstay in just a couple of short years. This will empower the engine of revenue growth for this company as well as the earnings and dividends. I'm looking for a consistent move upward over the next 5-7 years from this. #CCI #5G #REIT NYSE:CCI
NYSE:CCILong
by ByDHTaylor
1
Nasdaq Reasserts Itself vs. the Russell 2000One common pattern this year has been sporadic rallies in the Russell 2000 , followed by longer periods of malaise. We saw it in June, early August and again in the last 1-2 weeks. Each time, it’s been followed by a shift back to Big Tech, Growth and the Nasdaq-100. The same process seems to be happening right now. This chart shows our Smart Relative Strength indicator, comparing the Nasdaq-100 to the S&P 500 with a 21-day interval. Notice how it started turning positive last week and has continued since. There are some other bullish signs for the Nasdaq. One is the bounce around 10,800. This was an important consolidation zone in July following a large engulfing candle. Another potentially bullish sign is the way prices snapped back above the 50-day simple moving average (SMA) on September 28. It’s held that line since amid some retests below. NDX also held the 21-day exponential moving average (EMA). Finally, MACD is now rising. The Nasdaq didn’t have a lot of catalysts in September, and its heavy price action reflected that. Now with Apple ’s product launch and Amazon Prime Day tomorrow, price action is starting to perk up. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
TVC:NDQ
by TradeStation
2
T-Mobile Attempts a BreakoutT-Mobile US has chopped sideways after gapping higher. Now it may be ready to break out. TMUS jumped to $115 for the first time ever on August 7 after its quarterly results. The shares inched slightly higher by early September before pulling back with the rest of the market. This consolidation now resembles a bullish flag or high basing pattern. TMUS has recently pushed against the same downward-sloping trendline that held it in check during this period. The mobile-phone stock closed above it yesterday, creating the potential for a bullish breakout. To the downside are two potential sources of support. One’s the 50-day simple moving average (SMA). Another is the $108 area. Notice how TMUS double-bottomed there on September 18 and 24. That was also near its pre-gap price zone. Fundamentally, TMUS is now a synergy/integration story. If it successfully digests Sprint, investors could view it as an inexpensive growth stock. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NASDAQ:TMUSLong
by TradeStation
XOX: Wildcard for 5GShareholders are keep raising their stakes and these are in August ALONE! Something is really brewing! 12 Aug 2020 - 3,000,000 (MR TAM PING KUEN, DANIEL) 12 Aug 2020 - 3,000,000 (DATUK CHAI WOON CHET) 11 Aug 2020 - 10,000,000 (MR TAM PING KUEN, DANIEL) 10 Aug 2020 - 7,000,000 (DATUK CHAI WOON CHET) 07 Aug 2020 - 4,100,000 (DATUK CHAI WOON CHET) 07 Aug 2020 - 30,000,000(MR TAM PING KUEN, DANIEL) XOX is partnering with Jiangsu Sulian Asset Management Co Ltd to explore regional 5G network deployment. Succeeding in this, it will definitely push the price even further plus Malaysian's Government is also keen on developing 5G. Technically, XOX strong Resistance area currently at 0.315-0.320. Succeeding in breaking that area, next couple of Resistances are 0.345 and 0.395. Support is observed at 0.265.
MYX:XOX
by PencariSapi
4
Silver on its way back up (cont.)Silver’s larger overall Elliot impulse wave started in mid-March, and I believe we just completed wave 4’s correction. This overall trend is noted by the blue Elliot impulse wave in the chart. I took a guess and put the end of this impulse at $33.54. It just seems like the support and resistance levels line up well here when considering the chart dating back to mid-March, and so does the 2.618 Fibonacci extension level of more recent patterns. This is purely a guess though, I have no way of knowing where wave 5 will end up. Within the overall pattern are smaller fractals of Elliot waves that I have labeled yellow for impulse waves and white for correction waves. I have June 15 as the date that the most recent 12345 Elliot impulse wave started and the Aug 6-7 peak as the top of wave 5. It looks like wave C of the correction just bottomed out, and the silver is climbing back upwards. This is between the 38.2% and 50% Fibonacci retracement levels of the overall chart (the blue line, dating back to mid-March). That means that right now is an excellent long-term time time to buy silver. I do expect silver to continue to be bullish. The effect of scarcity in markets cannot be overstated. We know that central banks are very good at creating fiat currency out of thin air. We know that alchemists have thus far been unsuccessful in creating precious metals out of thin air. When we speak of the price of silver (or any other commodity) in terms of fiat (usually the US dollar) we are comparing an element to a fiat currency that is being created out of thin air at an ever increasing rate. And, if we think of price as a function of the relative scarcity of one thing to another, it’s hard to imagine how the relative value of the elemental metal won’t increase. And what about demand? Silver is an essential part of solar panels and the electric circuitry of things like cell phones and other electronics. 5G? Electric cars? Solar powered homes? Smart homes? If you think those are going to be ever-increasing aspects of our daily lives, then you should have no doubt about silver’s outlook from a demand perspective. And so, I do think that silver will continue to remain bullish relative to fiat. I do believe that the current price will be looked back on as a low, and a great opportunity to buy. And, yes, I do believe we will soon enter another bullish Elliot impulse wave. You’ll look back and brag about how you bought silver back in August 2020.
SLong
by tarbh
Nokia remains one of my favorite long-term technology playsI've been buying long-term (2022) calls on Nokia, and they're performing very well this past week. The good news for Nokia has kept rolling in throughout this coronavirus downturn, and Nokia announced today that it has declared a total of 3,000 patents related to 5g. Last year it looked like Nokia was falling behind in the 5g race, but ever since it suspended its dividend to free up cash flow for R&D, it has been fast making itself a 5g leader. Along with BIDU, NOK is one of my favorite long-term tech plays due to low valuation and a large number of hot new technology patents going into product development that should pay off long-term. I will buy more calls on the dips.
NYSE:NOKLong
by ChristopherCarrollSmith
5