MU Micron Technology Options Ahead Of EarningsLooking at the MU Micron Technology options chain, i would buy the $50 strike price Calls with
2022-10-21 expiration date for about
$2.81 premium.
Looking forward to read your opinion about it.
MU trade ideas
How Long Can Micron’s Bounce Last?Micron Technology bounced along with the rest of the market over the last week. But now it may be showing signs of continuing lower.
The main pattern on today’s chart is the falling trendline along the highs of August and September. While MU has fought above this resistance, trendline breakouts have generally not worked in the current bearish market. Fundamentals are also a challenge as memory-chip demand weakens.
Next you have a grouping of candlesticks: a spinning top on Tuesday, an outside day on Wednesday and an inside day on Thursday. Those could mark a top for the recent bounce.
Third, stochastics have reached an overbought condition.
Finally, the longer-term chart shows little evidence of a bottom. MU’s next likely support zones on the weekly timeframe could be the August 2020 low around $42.25 or the longer-term base around $34:
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MU: Reacting at a SUPPORT LEVEL!• MU is reacting this week, but the trend is still bearish;
• MU is doing lower highs/lows, and in theory, it is seeking the next support at $46.23 (red line);
• Could MU bounce from here? Yes, and this week is doing a bullish reaction, but it must close above the $51.30 again in order to recover to the $58 - $60 area again;
• By closing above $51.30, MU will trigger a false breakout from a previous support level. Along with the recent increase on the volume, this might be what it takes for MU to recover;
• MU is a promising stock, but for now, it must do better signs in order to become attractive again.
I’ll keep you guys updated on this. Remember to follow me for more analysis like this! Keep in touch.
MU - will 50 hold?50 is an absolutely critical level for MU. This has to hold. Although if 50 breaks, I will be looking for short opportunity.
Falling wedge on the weeklyThere is an emerging "Falling Wedge" pattern on the weekly chart.
Several additional signs suggest that a reversal is coming.
While the price is at lower lows, the MACD indicator shows higher lows.
This phenomenon is called regular divergence, and it is bullish.
Another bullish sign is that the RSI is oversold on the daily chart and almost oversold on the weekly chart.
Lastly, MU outperformed the overall market in the last few trading sessions.
Support: 49.66, 46.52
Resistance: 52.99, 53.98, 58.37
Micron - Mean reversion rebound aheadThe inverted hammer is seen as a strong contender for a mean reversion targeting the supply zone at 55-57 region. As such, there is a chance that it will rise before heading for main support at 46.00
MU Micron - Investor Idea of the Day - $49.55 Buy, $65 Target0. Notes to follow;
1. Stock getting near long term support here;
Bounce MU1. Potential double bottom
2. WT_LB in conjunction with CM (thank you very much LazyBear and ChrisMoody for sharing your indicator with the community). Based on sample of total population of 62 cases the results of combined use of these two indicators is 82%.
3. TP 1 - 59.2 (average out position is $8,400 at 52.7)
4. Trigger stop loss (5%)
valuable shareEvery quarter is much better, the company produces memory that is used in any device in the planet, you can get it now with 45% of discount, wait to see what is going ro happen in a couple of days!
GAP coveredI was expecting this, we had to cover the GAP if we want to go higher, so its good to buy here.
mu 2 scenariosmu 2 scenarios ... 1] buy after the first break above the resistance 1 and 200ma .. continue the long trade after the second break above the resistance 2 .. 2] sell under the resistance 1 and 50ma
Micron Technology re-testing breakout level?Micron Technology
Short Term
We look to Sell at 66.59 (stop at 70.43)
Preferred trade is to sell into rallies. There is scope for mild buying at the open but gains should be limited. The medium term bias remains bearish. Choppy price action seen. Selling spikes offers good risk/reward.
Our profit targets will be 52.19 and 41.09
Resistance: 66.00 / 75.00 / 96.45
Support: 51.50 / 46.00 / 30.00
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MU - Resistance test Comment :
1) TrendX+ indicator - candlestick still wandering below trend line, mid-term downtrend
2) DDX+ indicator - although fund candlestick has breakout trend cross and now has supporting, however it is still under zero-axis, take cautious trading at this point
3) MCDX+ indicator - Weak, banker bar has very little while retailers bar (turquoise) has more than 50%
4) Micron currently having a technical rebound after a brutal fall since Feb'2022, It will be facing a resistance test at neckline very soon. Be ready to go south:-
> If the stock doesn't breakout
> If the stock false breakout on neckline A
Support & Resistance :
R : Neckline A
Remark :
- Length of ab=cd
DISCLAIMER :
Analysis above SOLELY for case study purpose, not a PROFESSIONAL ADVISE. This analysis does not provide any trading advise and buy or sell. Trade at your own risk. Trade only after you have acknowledged and accepted the risks involved.
$MU with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $MU after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 100%.
MU will test resistanceIn regards to comparing net income to market cap between the big semi-conductor teams, MU looks the best. TSM is awesome but if there's a war with China I don't want to deal with blockades while US semi-stocks sour out the sky after we subsidize when we lose Taiwan.
Test 70 resistance
Probably purchase 50-55 c calls deep in the money and sell 70-80 c calls and collect off the volatility
Will the Bears Remember Micron?Micron Technology hit a new 52-week low in early July, followed by a tepid rebound.
The first pattern on today’s chart is the 50-day simple moving average (SMA). MU is only now returning to this line -- despite broader market being above the 50-day SMA for two weeks. That’s a sign of relative weakness. Could it also make trend followers expect a continuation of this year’s slide?
Second, price action in the last three weeks resembles a bearish flag.
Third, MU tried to make a higher high on Monday versus July 21. But it failed and a shooting-star candlestick was the result. That may suggest the flag is nearing completion and could soon give way to bearish continuation.
Finally, the memory-chip maker had a double-bottom at $66 in May. The recent bounce never even reached that level, which could indicate sellers remain in control of this chart.
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Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. You Can Trade, Inc. is also a wholly owned subsidiary of TradeStation Group, Inc., operating under its own brand and trademarks. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
mu 2 scenariosmu 2 scenarios .. 1] buy after the break above the resistance 1 and 200ma .. 2]sell after the break under the support 1 and 50 ma ..
MU AnalysisPrice is on a downtrend and recently broke market structure to the upside after mitigating the bullish POI at 54.85. Price is creating a short-term uptrend and possibly going higher to mitigate the bearish POI at 66.01 before we see a continuation downwards.
MU flat top flag INVERSE CHART
61.01 flag break to trigger 60.14 double bottom, can see big move
61.01 break as entry
MU daily wolfe wave SMHThere is a daily wolfe wave setup that triggered on July 1 closing day at 53.65. The projected target is calculated by extending a linear line between pivot 1 and 4 and projecting the line. This is represented as the green perforated line, as shown in the chart. The projected target is 84.69 which is expected to reach this price target before Sept 22. Projected targets are defined by identifying the apex of the wolfe wave and projecting a vertical line toward the green perforated projection tgt which is extending from left to right. Using the customizable gap finder indicator there are sets of gaps along the way toward 84.69.
Its time to buy!Price is in the qualified demand zone and now is time to buy.
set the buy stop order and do risk free and then trailing stop.
MU close to starting a positionMU has violated a triple bottom on Friday which is why I have not initiated a position YET. Bottom bollinger band and stochastics oversold on daily. I'd expect a bear market rally to $65 or higher soon, perhaps a relief FED rally?
