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MU

Recap of MU with a Contrarian Point of ViewMU After hitting the high of 63.42 market pullsback to breakout point of 50.00 The pullback likely would have stopped you out That pullback also provided a reversal pattern Depending on your rules most would not have bought that market until it went above the 50 day EMA Me I would have bought near the 46.64 level anticipating the change in trend Now that we are moving higher I will be anticipating strength from the bears to get short at 63.42 Who will be buying here the momo traders and those who trade with the trend The swing points to me act as tops and bottoms as a reversal zone Ironically bulls should be able to make new highs by “following the trend” but when they don't as a contrarian the odds are in my favor to short
NASDAQ:MU
by nastrades21
Waiting for entry - Micron This is a great opportunity to enter a long position on Micron. We have a bear and bull scenario, the bull one is the most likely. Bull We just finished the wave ((i)) of the wave 5 (one larger degree), so I'm expecting a correction between the 50% and 65% fib (49.42-$51.15). Why? Because: -4H RSI broke this ((i)) wave support -Second waves usually retrace deeply the first one. -Strong resistance in the golden pocket (65-61.8%), plus the 200 EMA -Golden cross (8,13 and 21 EMA crossed the 55 EMA (although not with great volume). Bear We actually only finished the B wave of the correction and we're retracing towards $43.11. However, I'm pretty sure we're on the bull scenario because of the good media coverage and good fundamentals. Can't see Micron retracing more than 49. My targets are 61.38 (very likely), 68.5 (likely) and 80 (only If we hit 68.5 in the ((iii)) wave (pink). So, a good setup is to ladder buy from 51.5 to 49.5 with a stop loss on 47.5, giving us a nice 4.35 RRR taking profit on 61.38 (the most conservative target). I would not hold or enter a long position above 80, because that's the resistance of the channel that begun back in 2008. This is only my opinion, trade at your own risk.
NASDAQ:MULong
by ricsalrod
This is my first charting, take it with a grain of salt please.Looking at trends from what I understand so far, is that after this dip this is going to be a buy and hold for a couple of years till the next spike. Although it may not be so long do to the fact that there is so much research and development on solid state hard drives. Once these are more affordable, I'd keep a close eye on this puppy. But this is just me... I'm new to technical analysis. SO PLEASE SO NOT BANK ON MY WORD! This is more of a swing trade approach on my end. Suggestions are open. Thank you!
NASDAQ:MU
by PencilNeck
Possible SPY Move Here (Bullish Scenario)Hey Guys, things seem to be looking up a lot for the SPY, here seems to be one of the many scenarios here that could play out. The SPY seemed to have a fantastic run up here with a slight retractment (B-C) and a possible measured move up to D. Only problem is, that if D is reached, the SPY will have to be completely gassed, meaning it's best to wait for a retractment. We seem to have a band of VWAP here that could act as possible support coming up soon, the area circled is an area of marked interest. The 50% retractment seems to match up fantastically with the VWAPS, as well as the former resistance line from the early January Drop. If the SPY retracts to there, we could see a fantastic buying opportunity with an even better stop loss position, and this would be one of my preferred scenarios. With that being said though, the most important thing to remember is that preference is just that, a preference! It's not a guarantee and no matter how hard I want or believe, it in no way means this outcome will happen, just one of many high probability outcomes. Always antacipate before you particpate! The market can move in any direction it pleases, just try to listen to it! In other news, let's take a lot at the shorter 30 Minute Chart: As you can see, the really thick purple line is the 5-Day MA, and it's sloping up beautifully, ichimoku is looking great. Longer time-frame: 200 is still rising, we're finally above the 50 Day MA, and 20 DMA is about to finally cross 50 DMA, so things are looking good (for now). Probably the most important thing I'm about to say this entire post: Do not, and I mean Do not in any way, shape, or form, CHASE!!! We're getting so overbought right now and the SPY, even though it's not showing it right this second, is getting weak! Chasing prices makes your stop losses ridiculously large, so just wait for a retractment here and let's see if we can get in at a better price! That's all guys, any questions, leave them down in the comments below. I know I haven't posted in a while, just been busy. Let me know what you think.
AMEX:SPYLong
by croganm
7
Buy MU on this Pullback with a Stop Just Below 45. Target 60.The Weekly Chart of MU favors a bounce upwards. Your stop loss would be just below 45, and a profit target near 60. You risk about 3 dollars a share for a reward of 15 dollars a share. That's a 5 to 1 risk to reward which is outstanding. The next support level down is in the 38-40 dollar level, so if you get stopped out, the 38-40 level would be the next area to buy at. If MU closes below the 38-40 level, we will probably retest the 27-32 level. I analyzed the weekly chart of MU in more depth at my blog along with many other stocks. bigfryfinancialmarkets.com
NASDAQ:MULong
by bigfry
1
THE WEEK AHEAD: DIS, AKS, P, TSLA, TWTR, X, MU, DISHWith most of the earnings heavy hitters in the rear view mirror, there isn't much to trade this week of quality from an earnings announcement volatility contraction standpoint, with DIS being the standout name. DIS announces on Tuesday after market close with a 30-day implied volatility of 25%, which is in the upper half of its 52-week range. The May 18th 96/97 16 delta short strangle pays .97 with a 75% probably of profit, which isn't horrible, but I'd rather have a background implied above 50%. One underlying that I don't usually trade earnings that caught my eye, however, was DISH, with an implied of >50%, which is at the top end of its 52-week range. It announces earnings on Tuesday before market open. You can naturally play it for earnings-related vol contraction (the May 18th 20-delta 30.5/37.5 short strangle's paying .88), but the chart may suggest taking a directional shot instead. I'll set out several bullish assumption plays in a separate post that would take advantage of its "being on its butt-dom." On the slip side of the coin, there are several individual names that have that ~50% metric I'm looking for that have already announced and that may be worth nondirectional plays that are just as -- if not more productive -- than the Disney earnings play if set up in the June monthly. Here they are, ranked by their 30-day implied volatility percentages: AKS (65.5) (straddle), P (59.2) (straddle), TSLA (53.9) (strangle), TWTR (49.5) (strangle), X (48.6) (strangle), and MU (47) (strangle).* On the exchange-traded fund front, not much is attractive, having all fallen below 35% 30-day implied: XOP (29.3), EWZ (28.5), SMH (26.9), EWW (24.9), FXI (22.8), so I'm unlikely to consider putting on a play in one of those unless something substantially changes as the week evolves. Moreover, my tendency is to set those up in the monthlies nearest 45 days until expiration and June (40 days 'til) is starting to "fall out of that window," with July (75 days 'til) being too far out in time. * -- You can naturally consider going defined risk with some of these, using iron flies instead of naked short straddles; iron condors instead of short strangles.
NYSE:DIS
by NaughtyPines
2
Good Long Entry For MU NowAlthough I don't know where the stock price will move, I think there's a good chance MU retests the highs of the low 60s in the next few months. In case I'm wrong, I would place a stop loss below the minor low at 47 (around 45 is good). You risk about 5 dollars for a gain of 13-15, so your risk reward is about 3 to 1. Also, something to note is that MU gapped down below the 49-50 level on Friday, which was the previous breakout location. However, MU quickly recovered even though the entire market was selling off. The current price action is hinting at a false breakout, and the upward move that follows false breakouts tend to be very quick and violent. Good luck trading! If you like my trading ideas, you can consider following me on tradingview/stocktwits. Blog: bigfryfinancialmarkets.com
NASDAQ:MULong
by bigfry
MU stock: Playing the bounces off Fib levels. Easy as A, B, CWell, I must first admit, I am publishing this chart in retrospect as I've just now taken the time to really analyze MU in this way. Unfortunately, I missed some massive profit opportunities, but this is certainly a learning experience for the next time around and....there may be one more trick (trade) left up this chart's sleeve. So as you can see from the chart, as MU has pulled back from its high around $63, it has bounce nicely/sharply off each Fibonacci retracement point (for a gain of about $3-4 each time). This set up is a day traders dream. In and out of a trade with significant profit in a very short amount of time. First bounce (labeled A) off the 38.2% level was good for almost $4...nice! I'm not really paying much attention to the 23.6 level, though there was a bounce in that region. This bounce also coincided nicely with a trend line that formed a 5 wave pattern....even better (see the pink line). Second bounce (labeled B) was off the 50% level (okay....not technically a Fib number). Again this was good for $2.70! Also, this happened to fall right on a nice trend line to create another 5 wave pattern (I don't have all these waves drawn in because the chart would be very congested, but hopefully you can visualize them on the blue line in the chart above). Third bounce (labeled C) was off the 61.8% level and was again good for over $4. Again, there is a legitimate 5 wave structure that could be formed here on the gold/orange trend line. So the question is: Does Micron continue its fall or does it bounce up from here and start a new bullish move? I honestly have no clue, but I can tell you one thing: if it falls through the gold trend line, I will be watching for a touch to the Fib 78.6 level at a price around $43.19. I may go long a call option here, I may buy shares, or I may sell a put just below this level (or maybe I'll do one or more of the above) for a quick trade expecting a move between $2 and $4. I'd not get greedy though, and I'd look to take profits early. I'd certainly keep a tight stop loss, because if MU gets beyond this level without a bounce, next stop may not be until it hits $37-38. Certainly, the bulls could regain control here at the 61.8% level...this would make a fantastic retracement for a very bullish wave 1 up/2 down as part of a larger 5 wave structure to take MU significantly higher (remember all those analysts predicting MU at $100). A 1.618 extension of a larger Wave 1 with Wave 3 starting off the 61.8% level would give MU a Wave 3 target of $89 (not something to ignore) . I'm staying neutral at this time and will let the chart tell me where MU is likely headed next. Thanks for reading and giving this idea a thumbs up if it helped you in any way! Bonus points for anyone that can draw the trend line that creates a potential 5 wave structure that intersects the 78.6% Fib level.
NASDAQ:MU
by CryptoTA4U