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Micron

After 200 days we can see a breakout | MUToday we will take a look at Micron Technology, a company that engages in the provision of innovative memory and storage solutions. Time to check the Technical elements on the chart: 1) From 2018 until November 2020 the price was inside a massive range until we saw the breakout of it and a 50% bullish movement from that situation towards the top of the bullish impulse 2) From April until today the price has been consolidating on a clear corrective pattern where we can define both top and bottom edges 3) How can we know that the structure is finished? Two reasons here: first we have clear edges (previous item) and second the structure has made contact with a key level, in this case, the ascending trendline. 4) Now we have a breakout of the corrective pattern. Remember that Technical Analysis is a statistical discipline, which means that we are never gonna have certainty about a situation. However, we know that if we engage in quality situations over certain periods, we will be able to observe consistent results. 5) We are not taking setup on this stock, (we already have exposure on other assets). However, it's an interesting situation to wait for a throwback (retest of a broken structure). IF that happens, we have defined an activation level as you can see on the chart (ALWAYS ABOVE THE TRENDLINE) 6) Depending on how aggressive is the setup you are taking, the invalidation level can be: FIRST below the whole structure 65.00 / SECOND below the throwback (this setup provides a massive risk to reward ratio, however, is prone to a quick stop loss) 7) Targets: IF I would be executing a setup here, I would protect my setup once the price reaches the previous top, which shares a major resistance zone that you can see on the weekly chart (2% below that, I want to be risk-free) / Now, the places to close setups on profit can be the first or 2nd Fibonacci extension. The expected duration of a movement like this may be between 200 to 300 days. 8)RISK: This is the formula I use to trade: I never have more than 5 setups at the same time NEVER EVER. And the maximum % of risk I take on any setup is 3% (ONLY with a STRATEGY THAT YOU HAVE a lot of EXPERIENCE WITH). Let's understand this better, most of my setups happen on the daily chart, which means that time resolutions are between 2 weeks to 3 months. Another rule I use is that my setups must happen on uncorrelated assets example: NFLX / BTCUSD / XAUUSD / FCX / AMZN. So my worst-case scenario is losing all at the same time which means a -10% to -15%. That's more than acceptable for me. And the most probable thing is that I would be able to open 4 to 5 new setups 1 to 2 months later. That's why this type of trading style is so secure. Even in apocalyptic scenarios, you would face a manageable loss, and it will take you time to develop new setups (you avoid impulsive trading) Thanks for reading! Please feel free to share any idea about MU, in terms of technical or fundamental analysis.
NASDAQ:MU
by ThinkingAntsOk
1
Breaking through the resistance line in Micron TechnologyMicron Technology is a semiconductor manufacturer. It is primarily known for its DRAM modules, flash memory and SSD drives. The price broke through the resistance line. In fact, the 5th ascending wave has begun. Within the 5-wave movement, the price should reach at least the top of the third wave, which is about 30 percent from the current levels. Micron Technology also shows good economic results. Revenue is growing from quarter to quarter. The consensus price from analysts is $98 (above the third wave).
NASDAQ:MULong
by rvasilchenko
In wait to gainWe have been watching this action for a long time. Everything is fundamentally positive for it. The semiconductor crisis is good for it. The products are in demand. Technically it will soon be possible to look for a long position. I recommend to look to buy when it gets above the 69 level. Further growth to $100 per paper. (43% Upside). ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Stock trader? Now, It's your turn! Be sure to leave a comment let us know how do you see this opportunity and forecast.
NASDAQ:MU
by QuantumLabSignals
1
MU:Undervalued Stock and Strong SupportMU has been beaten down lately with a decreasing quarter revenue earnings since 2018 and recently it has established a strong Support Demand Zone at $69. Net margin contraction has also played contributed into the press. Earnings is coming up in October and it is expected to be better. From $69 bottom support to the upcoming resistance at $72/$74 with Fibo of 0.5, the trend has changed to be an uptrend. Gives a solid amount of 7% of upside. Eventually would like to see MU to reach $80 range. MU's MACD is oversold, RSI oversold and it is crawling to the upside trend making higher highs. Seems like a recovery back up. Fundamentally and Technically seems good with positive earnings coming up and a strong support rebounding.
NASDAQ:MU
by yflaw1018
MU: Can the trendline hold?Gapped down and broke out of the channel yesterday. However, the longer term up trendline + horizontal line supported the price. The big volume looks like it has exhausted all the sellers as well. Since on a longer term MU is still in an uptrend, let's see if we can get a bounce up back to close the gap for a nice 2.5 R/R Disclaimer: I'm not giving any trading and investing advice. I'm just sharing my chart observations. If you have any symbols that you'd like me to analyze, feel free to drop me a comment.
NASDAQ:MULong
by leslieyimsm
Micron internals improvingTechnical Analysis From the beginning of May, MU has been kept in a range; however: RSI has been making higher lows where price has been retreating at the same support level. OBV is confirming the uptrend in volume within the consolidation range. These two bullet points support a bullish case for MU. Trade analysis I expect MU will try to test the roof of the consolidation range at $85.5 approximately; after, a re-test of the 50sma as support could signal a potential buy.
NASDAQ:MU
by dorfmanmaster
2
Trading Idea - Micron TechnologyBUY ENTRY: 87.72 USD TARGET: 95.51 USD (+9%) STOP: 83.16 USD 1.) rejection at the uptrend support level. uptrend continuation. 2.) retest of the resistance level expected 3.) The profit margins achieved by the company are among the highest of any listed company. The company's business is extremely profitable. 4.) The company's financial situation is excellent, which gives it considerable investment capacity. 5.) Within the weekly observation period, an upward trend can be seen above the support zone at USD 64.19.
NASDAQ:MULong
by Traderherz-Analytics