MU Move Bullish FlagThis upward flag although looks bullish, could possibly spark some selling if channel is broken. Closing most my position with nice profits. Letting some run.
Good luck!
MU
MU inside day long opportunityThe whole stock market is in the rally mode again, inside bar is one of the most effective tool to take part in such market.
MU, as a cyclical stock most of the time, also made an all time high on Wednesday.
The other unbelievable low P/E stock GM also starts a rally, and I think if there are still continuation for this rally, a simple P/E correction to 10-12 times can create a huge rally for these names.
Of course, stocks won't suffer low P/E for no reasons; there are always skepticism for both MU and GM's business.
I'm not really that optimistic to say that they are going to make a REAL turnaround here, but a limited risk set-up to long to take part in the potential continuation is still a solid idea.
LONG MU - MICRON ON 08/28/17 TECHNICAL SETUP FOR OVER 40 BY 09.20.2017 NASDAQ:MU
HUGE OPTIONS POSITION BEING BOUGHT FOR VARIOUS STRIKES
POSITIVE EARNINGS WITH POSITIVE FUTURE OUTLOOK
ROTATION IN SEMIS MIGHT TAKING PLACE
NASDAQ:AVGO IS ANOTHER PLAY ON THIS
SO IS NASDAQ:INTC
preview.ibb.co
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Bonus Earnings: Sep 26: Micron - The Balloon is Getting FullCompany is up over 56% YTD on solid demand.
Stiff competition, however, will be a drag on guidance -
I expect a lackluster guidance revision and a slight correction in share price.
$30 PT through November 2017.
MU sellAfter the third rising, MU still can't reach the level of the second peak, and complete a head and shoulders pattern
$MU - OBV Fib Levels, Money Flow, and OptionsDespite a solid earnings report, $MU took a beating today and has a lot of bulls scared.
However, looking at the OBV and the fib retrace i set on it...the largest volume bar of recent wasn't the one that brought it to the level it's at now. A weak break (weak on volume) there is important because it means that a little more volume can kick it back up fairly easily.....so there's not much downward pressure.
And after a dip in the money flow following that volume bar, we can see it starting to rise again. Today's money-flow was positive...implying there was alot of buying in the name today.
The options market supported the long thesis today because we saw some very large Call sweepers, mostly at the ask side. and a bullish P/C ratio.
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I see this stock moving up next week gradually.
Typical Micron (MU) - Good trading.Micron is at it again with it's normal ups on earnings, and down for no news.
5-5-1 last waves for correctionwaiting to confirm that 4th and 5th waves are unfolded to open short positions and trade a 2nd wave correction.
MU - mid sort term bearish correction2nd wave of 3rd wave. Mid-long term is bullish, after this correction we will see explosive uptrend moves.
Short position around 26.5 when we could see the impulsive exhausted.
After that target to look for is 16 for 0.618 of the whole impulse. Then the 3rd wave will go beyond this impulse, and first expected target would be +40
MU StraddleTrade Setup:
-1 MU May 19 23/29/29/35 Synthetic Straddle @ $3.01
DTE: 56
Max Win: $301
Max Loss: $299
Breakevens: $25.99 & $32.01
Trade Management: 25% profit; Full loser, will roll out short put spread if ITM at expiration.
Green is profit zone; Vertical black bar is expiration.
MU pullback- Stock hitting resistance at 61.8% retracement from multi-year highs.
- CCI shows a bearish divergence. While this bearish divergence also showed up in the middle of 2016 and stock continued to trend up, this time the RSI shows the stock is overbought.
I would expect a pullback to the original trend line, possibly back to 50% retracement before an uptrend is continued, if it does continue.
THE WEEK AHEAD: IT'S EYEBALLS ON THE FEDUgh. Doing my weekly market review/screening and there is literally nothing high IVR/high IV to play ... . Nada ... . Zilch ... .
One option is to sell puts in one of these "just high IV" underlyings:
VRX: April 21st 11 goes for .56
AKS: April 21st 7 goes for .31
AMD: April 21st 13 goes for .66
WLL: April 21st 8 goes for .28
CLF April 21st 8 goes for .34
X: April 21st 32 goes for 1.25
These are all at or around the 30 delta ... . Those plays, however, are not my "favorite girls to dance with at the ball."
For earnings, what little "quality" stuff is left to this season is still a few days out:
FDX (IVR 92/IV 30) (3/21 AMC)
GME (IVR 73/IV 46) (3/23 AMC)
MU (IVR 76/IV 47) (3/23)
VIX: For a "Term Structure" play,* the earliest expiry where the 50 delta strike is at 16 or greater and pays ~2.50/contract is June, and that's 101 DTE ... .
Of course, we have that little Fed shindig going on next week. Implied volatility and the VIX can turn on a dime, but I've been waiting for VIX to turn on a dime for weeks ... .
MU Micron Exponential Moving Average Strategy exampleJust one example where I see this strategy working very well. 9 and 21 period Exponential Moving Averages give the buy and sell signals. I like the 2 week chart for this particular security.
MU Bullish SwingStrong small channel with just enough room to squeak out a little over 2R. Ultimate target is 26.05
