MU
Semiconductors anyone??Cup and handle on the daily for Mu and weekly for Intel. This is a very bullish and often very successful chart pattern. Go long buddy!
AMD fractalAMD one of the first stocks i traded, showing signs of a repeating H&S pattern, i likely return to the purple fib line before right shoulder is established, nice short. It goes against the momentum of the momemtum of the MA on the Monthly chart but i think a H&S squeeze can be fit in. Strong mirror resistance level at the top of the three peaks can be seen.
Correlation trading of not expensive stockCorrelation trading strategy idea analysis
In my previous ideas, I showed my vision of correlating moves.
Large capitalized stocks like FB, APPL or MSFT have a good correlation with SPY due to big weight in the index.
But less expensive companies like MU also are good for correlation trading.
Look on the SPY and MU charts.
Actual corresponding support&resistance levels look so much alike.
Correlation is good enough to expect future similar moves.
It is an especially good time for correlation trading.
Many big players will close their positions due to a correction move.
So, I suppose, it is time for intraday shorts.
Watch on support levels with particular attention.
Following the correlation trading strategy, it is reasonable to wait for correlated level breaking.
When SPY and MU simultaneously break their resistance levels, It will be possible to buy MU.
When SPY and MU simultaneously break their support levels, It will be possible to short MU.
Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision.
Always do your own analysis before making deals. When you use any materials, do not rely on blind trust.
You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy.
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MU - NVDA Earnings playMU always goes up when NVDA beats, cheaper play than NVDA because there's no earnings premium.
Will probably buy at the end of the day since it's already jacked up.
$MU Will get there eventually.Spikes up and retraces a lot, but not really affected by constant earnings misses. History shows it should eventually reach the Jul 2018 high, although some profit growth would be nice! Pullback due in short term.
MU Completing Long-Term BottomMU weekly chart shows a bottom completion underway for MU as it recovers from a 50% decline last year. The stock is showing some underlying momentum from large lot hidden activity.
MU strong stock trend in stronger On a yearly performance, MU did better than 77% of other electronic components stocks. Now it is currently trading near its 52 weeks high so it is performing in line with the broader markets.
On a mid-term based daily chart, we could see a strong wedge uptrend pattern with momentum, and a few minor pullbacks occurred due to some broader geopolitical impacts such as the trade war and global 5G development uncertainty. But the stock is kept showing higher lows signaling the investors' passion for it.
MU is about to consolidate at the 56.8 support level which is lying underneath the price as the chart indicated above. Since the ATR volatility risk has not packed in too much yet at the current high, DMI overall trend indicator is still heading up and bull-side trend strength is still controlling the directional momentum, I would go long with it. My target is simply at the prior all-time high resistant area which is indicated by the red band above the stock price roughly at 60, any pullbacks that break below its bollinger bands middle band could be seen as a stop-loss trigger.
Besides, on the order flow side, there were over 2.9 million valued long calls detected from the options chain today with a strike at 60, expire in March.
MU Bearish Bat PRZPattern invalidated if price rises above the X point so the stop is just above it.
MU Island topMU has formed an island top the price may come to a reversal at the 1 fib level due to this formation. Maybe a rounded top? Possibly my favourite chart pattern so far.
MU continuation play good R:RChart is pretty clear with stop location and sellers are waiting above, so that is where you pull stops tighter etc. Happy trading!
MU before EarningsPhenomenal technicals for MU right before earnings release tomorrow. I used to trade this stock in the past, always loved its performance.
Stock is consistently creating higher lows and higher highs. 10 out of 10 indicators check out bullish. Stock is likely to break the ATH once again post-ER.
Before the ER it would be great if MU would close the gap created yesterday to allow for smooth sailing through the upper trend line seen on the 'monthly' below.
MU - DAILY CHARTHi, today we are going to talk about Micron Technology and its current landscape.
Micron Technology is poised to receive increasing attention from the market as relevant events are taking place. The company reports its earnings on Wednesday after the market had closed. With a rough year, this report could be a Micron Technology chance to boost its positive momentum. Also, in previous quarters, the company managed to beat estimates, despite the effects of the ongoing trade war between China and the U.S, that has been left investors apprehensive about its developments. Now that a perspective over a tariff truce looks more realistic, as negotiations seem to progress, Micron should receive another boost coming from this favorable geopolitical environment.
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THE WEEK AHEAD: FDX, MU, NKE EARNINGS; CHWY, /NG, VIXEARNINGS:
FDX (57/37): Tuesday, After Market Close.
MU (23/46): Wednesday, After Market Close.
NKE (24/25): Thursday, After Market Close.
Pictured here is an MU January 17th 46/57.5 short strangle paying 1.53 (.76 at 50% max) with 1 standard deviation break evens and a delta/theta metrics of .32/5.34.
Alternatively: a defined risk play collecting one-third the width of the wings: the January 17th 42/47/55/60, paying 1.69.
Neither FDX nor NKE are paying as well premium-wise relative to the cost of their shares, but the FDX 150/180 18 delta put/21 delta call short strangle in the January cycle is paying 3.88; the NKE 90/105 14 delta put/18 delta call short strangle, 1.15.
Alternative defined risk plays: the FDX January 17th 145/150/180/185 iron condor, 1.50 credit (not quite one-third the width of the wings, but you have to deal with some lack of granularity in the strikes with five-wides); the NKE January 17th 85/95/100/110 "forced goofy" iron condor, 3.30 credit (one-third the width, but a "forced goofy,"* again due to lack of strike granularity).
CHWY (--/50) gets an honorable mention due to lockup expiration on Wednesday. With it finishing on Friday above the $22 initial public offering price and approximately 87% of float subject to lockup, it could make for an interesting premium selling play and/or directional shot, particularly since 30-day remains high after earnings.
EXCHANGE-TRADED FUNDS:
TLT (31/12)
EEM (28/16)
FXI (19/18)
SMH (15/25)
USO (14/29)
Expiries in Which At-the-Money Short Straddle Pays Greater than 10% of the Value of the Underlying:
TLT: January '21
EEM: June
FXI: June
SMH: May
USO: February
BROAD MARKET:
SPY (7/12)
IWM (0/15)
QQQ (0/15)
Expiries in which the at-the-money short straddle pays greater than 10% of the underlying are all out in September. Ugh. No bueno.
FUTURES:
/NG (58/57)
/ZS (36/16)
/ZC (25/21)
/6C (23/5)
/6B (22/11)
With /NG 30-day at 57 and trading at a seasonal low, this may be a second opportunity to take a dip at a bullish assumption shot, assuming peak seasonality in January or February.
VIX/VIX DERIVATIVES:
VIX closed Friday at 12.63, with the /VX futures contracts trading at 15.22 in January, 16.70 in February, 17.07 in March, and 17.60 in April. Consequently, term structure trades remain viable for the February, March, and April, generally using spreads with a break even at or near where the futures contract is currently trading (e.g., VIX February 19th 16/18 short call vertical, .65, break even of 16.65 versus February /VX at 16.70).
* -- A "forced goofy." Strike selection is "forced" to get one-third of the width in credit, "goofy" because forcing the short option strikes leads to bigger risk than you might ordinarily want to devote to the play. There is nothing particularly wrong with a "forced goofy," as long as you understand that it's a risk 6.70/reward 3.30 play versus your usual play which might be risk 3.33/reward 1.67 play, for example.
