$MU - Retesting ATHsAfter a stellar earnings report, $MU is retesting former ATHs set nearly TWENTY years ago.
A break above sends us MUCH higher, especially with semis set to gain ground in 2022!
MU trade ideas
Rolling: MU January 21st 69 Short Put to 86... for a 1.01 credit.
Comments: With the 69 short put converging on worthless, rolled it up to a strike with a delta about half that of the short call. I originally collected 2.22 in credit for the 69/97.5 short strangle (See Post Below) and had a profit target of 50% of that or 1.11. Consequently, I'm revising the profit target to 1.11 plus what I received for the roll up of the 69 (1.01) (i.e., my new profit target to take off the now 86/97.5 is 2.12).
The other way to look at it is that I've collected a total of 3.23 in credits -- 2.22 for the original setup plus 1.01 for the roll up, and I want to close it out for 1.11 less than that or 3.23 - 1.11 = 2.12.
MU: A Put Buyers Dream SetupIn a perfect world this rejects 94.42 and we can short this thing back to $87.43. This is a perfect setup for a short to then create a "handle" of a "cup & handle" formation for chartists.
$MU | Watchlist #1 | 12/27 - 12/31 MU 94 BOUNCE
or 92.7-93 BOUNCE
Strategy:
Post earnings report rally
Buy into weakness at the bounce levels
News Catalyst: "Micron Technology (MU) shares were up nearly 5% to trade at $94.84 on Thursday, as more than 25 million shares changed hands shortly before 2:30 p.m. EST. Over the past five trading sessions, Micron has risen more than 16%, compared to a 1.7% gain for the S&P 500." - seekingalpha.com
Bullish moveBreak out and Gap up on open with High volume
Stops 5-7%
Target 20%
Not financial advice please use proper risk management
Is Micron ready for new ATH’s?$MU Liking this a lot especially if we do get our Santa rally after all.
Just had earnings and smashed through weekly supply. Had a nice gap and go play today already testing the bottom of supply at these ATH levels.
If tomorrow we see a pullback I wanna BTD at:
BTD 1 Top of supply if $ 90 holds
Or
BTD 2 / SL: 88.80 yesterdays low
Below 88.50 I’m not interested.
MU post earningsHas been trading in a range (possible Bull flag ) Since breaking out of a massive cup and handle that you Can see on the monthly. In the Aftermarket MU closed right at the top of this range. Any breakout over 88$ and MU could be headed for new ATH. A rejection here and were headed back to 80$ range bottom.
Long entry - Over 88.50
Target - ATH
Stop loss 87$
Short entry - 86$
Stop loss - 88$
Target - 80$
Short fundamental and technical analysis of a 'must have' stockQuarterly report:
Very impressive in my opinion. It was beating analyst estimations both in terms of revenue and earnings as well as future guidance and outlook. Investors are happy and on pre-market the stock is gaining more than 8% at the time of writing.
Fundamental analysis:
1. Valuation:
I could say that historically $MU had better valuation than it currently has, however if compared to industry peers and the overall market the valuation seems OK to me... especially in current highly overvalued environment and FED hawkish tone.
2. Growth:
The company remains a growth story. Earnings are forecasted to grow roughly 20% per year in the near future. Revenue growth is estimated to be not so significant.
3. Profitability
Luckily the company is extremely profitable. It was reported that gross margin equals 46.4%, operating margin equals 34.2%, while net income margin is almost 30%.
4. Financial position:
Excellent. Cash rich, almost no debts and well covered.
5. ESG rating:
Low risk and good rating (17.7 at Sustainalytics)
6. Dividend $ Buyback:
0.49% the current div yield and TTM the company repurchased $1.3b of its common stock.
Technical analysis:
The company is gaining on pre-market and remains in the uptrend. Next psychological resistance is around 100. This is the price where I will slightly rebalance my position.
Thanks for reading,
Feel free to ask any questions or comment down below.
$MU bullish reversal$MU Micron Technology Fiscal Q1 Results Rise; Issues Fiscal Q2 Guidance -- Stock Gains 6% After-Hours
stock just breakthrough the first resistance at 84.30 with the stock gapping up at after hour, people might take
some profits at the opening bell tomorrow. maybe wait for a bit to settle down until premium gets a bit cheaper
and see the formation of the stock is going.
also $MU is about to enter a squeeze and buyers in control so this could
possibly continue to push up and break ATH.
day trading entry scalp
BUY call above 86.90 sell at 88.90+
BUY puts below 83.96 sell at 80.95
always take profits as you see one. always follow your plan and risk management.
Hello everyone,
welcome to this free technical analysis . ( mostly momentum play )
I am going to explain where I think this stock is going to go over the next day or week play and where I would look for trading opportunities.
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My technical analysis is not to be regarded as investment advice. but for general informational proposes only.
Opened (Margin): MU January 21st 69/97.5 Short Strangle... for a 2.22 credit.
Comments: Earnings announcement volatility contraction play with rank/implied at 79/59. 2.22 credit on buying power effect of 8.07 (on margin); 27.5% at max as a function of buying power effect; 13.8% at 50% max.
Will look to take profit at 50% max; manage sides on approaching worthless/side test.
$MU | WEEKLY WATCHLIST 12/20$MU 1W
Nothing new here. I like other semis better, they have better opportunity imo. Still expecting a pullback on this one.
$MU 👇🌅💰Earnings one Monday after the close! We will see if the semi conductor sector is able to muster enough tail wind to see a breakout of this weekly bull flag...
MU - Bearish option flow into earningsBearish option flow into earnings.
On Friday, December 17, 2021 there was some notable buying of 4,882 contracts of the 12/23 $77.00 put
The fib retrace level for 50% would be the $77 area.
$MU | WEEKLY WATCHLIST 12/13$MU 1D
Although holding up fairly well still, my bias is telling me we still may see a wave 2 down before the next impulse. Looking at the $70-77 region for a great dip buy. Staying patient on this name.
Short MU, failed to break through level 88, rollback to level 77Short MU, failed to break through level 88, rollback to level 77
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Cup and HandleCup appears to be forming.
I marked mid cup on the chart which is a source of support. In a healthy cup and handle , the handle low should be above mid cup. This handle looks a bit iffy right now and not well formed, but I took a stab at finding it. You may see a better handle that I do (o:
Targets for this pattern are based on the depth of the cup using fib levels. Cup depth is 31.29.
MU looks to have been making a run up and hit a the bottom of a prior gap and turned back down. The top and bottom of a gap can be a form of support if price is above the gap, or resistance if price is below the gap. Sometimes these support and resistance levels become stronger the longer the gap remains in the chart. If price is above a gap and starts filling the gap, it is possible price will go to the bottom of the gap in hopes of finding support. I've noted this is especially true if it is a new stock or price is at newer highs, as there is no recent price action in or before the gap to provide support. For example, a stock such as PG may find support on a pull back within a gap as it is an older security with a lot of chart history and a security like UPST may have more trouble finding support when it was at it's highs as there was no prior price action in the gap.
Long top wicks can point to areas of resistance and long candle tails/shadows can point to support.
Stocks can't go to heaven and there is always going to be a top, eventually where price will turn down.
No recommendation
Short interest is low and negative volume in high
$MU sniper edition #4*This is not financial advice, so trade at your own risks*
*My team digs deep and finds stocks that are expected to perform well based off multiple confluences*
*Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management*
Recap: My team entered $MU at $72.92 per share. Our first take profit is $92.
My team averaged up on our position today at $82.5 per share bringing our share average up to $77.71.
OUR FIRST ENTRY: $72.92
OUR 2ND ENTRY: $82.50
FIRST TAKE PROFIT: $92
2ND TAKE PROFIT: $103
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$MU | WEEKLY WATCHLIST 12/6Momentum curling over which is what we want to see. Looking for W2 for a MAJOR buying opp. Stay patient friends.
Micron Technology for short term respite. MUFibtime suggest a drop over the next month to month and a half. This is a guess as markets can never truly be timed. Time after all is not a continuum and has ebbs and flows like a river. We just simply do not notice them. Here believing end of an A within a B within a B. Divergences happened, momentum shifting, 5 Wave impulse confirmed. 0-2 line not shown, but we are certain to be heading down on this one.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!
MU Rising Wedge BreakdownMU is within a rising wedge
Rising wedges are a bearish indicative pattern
I am suggesting a collapse down to a stronger area of support to manage this rising wedge
The other scenario is that this rising wedge breaks out to the bullish side, but for the consistency of chart pattern expertise we will stay with the bearish approach, which is considered appropriate.
