$MU Bottom Retest?I think we could see a retest to the 70-68 area, giving us a 4.71 risk/reward entry point, and taking profits on the main volume profile area.
MU trade ideas
[Analysis] Micron (MU)(US)Chips shortage is the talk of the town! Demand in Semiconductor is higher than ever.
The current 30% retracement on Micron from its high at 96.5, is a great opportunity for investors and traders who are looking to get in. Lower revenue for 2019 and 2020 might seems worrying but, Q1 to Q3 2021 earnings hint that Micron is on the right path for recovery.
69.00 is the immediate support but a further drop to the consolidation some at 58.00-64.00 is highly possible. Traders/Investors should have plans if such a scenario occurs.
Anything below 55.00 is dangerous and we should not be held beyond that.
We love to buy low sell high, but we buy low on uptrend counters!
MU:Undervalued Stock and Strong SupportMU has been beaten down lately with a decreasing quarter revenue earnings since 2018 and recently it has established a strong Support Demand Zone at $69. Net margin contraction has also played contributed into the press. Earnings is coming up in October and it is expected to be better. From $69 bottom support to the upcoming resistance at $72/$74 with Fibo of 0.5, the trend has changed to be an uptrend. Gives a solid amount of 7% of upside. Eventually would like to see MU to reach $80 range.
MU's MACD is oversold, RSI oversold and it is crawling to the upside trend making higher highs. Seems like a recovery back up.
Fundamentally and Technically seems good with positive earnings coming up and a strong support rebounding.
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$MU bought calls and stockMorning Star forming on W chart.
Bought Jan 72.5 calls & Stock
$68.58 is my Stop
Falling Wedge- BullishBig falling wedge on MU with a gap on the upside to fill, will be looking for a breakout from here- Just some support and resistance levels to keep an eye on along with some RSI-based supply and demand zones
PT1- $72.20
PT2- $74.79
PT3- $76.05
TrendyTrades: MU TrendyFreePlay 4-Point MoveHere's a 4 Point move TrendyFreePlay, a close above 71.76, enter and pt at or near 74.53
TrendyTrades: MU Analysisbottom of the channel, lovely bottom wicks indicating buying pressure as well. I see a fill of the gap and move back up to 78
MU: Can the trendline hold?Gapped down and broke out of the channel yesterday.
However, the longer term up trendline + horizontal line supported the price. The big volume looks like it has exhausted all the sellers as well.
Since on a longer term MU is still in an uptrend, let's see if we can get a bounce up back to close the gap for a nice 2.5 R/R
Disclaimer: I'm not giving any trading and investing advice. I'm just sharing my chart observations.
If you have any symbols that you'd like me to analyze, feel free to drop me a comment.
MU saw some people on Bezinga Stream floundering on this..This shows MACD Bullish Divergence and thats to $92. My path shows to $120-128. Chart looks really. Good. I used the Cloud this time to find the same move in the past. As i think its more reliable when you can find price action dip into the cloud the same way and with the same kind of candles that have been painted. I customized this Cloud way out of wack from the standard I dont know what possessed me to use the settings I have but It has been very reliable.
by iCantw84it
07.30.2021
MU - MICRON TECHNOLOGY, INC - DAILY - RISE UPMidterm forecast:
While the price is under the resistance of 74, a resumption of an uptrend is expected.
We make sure when the support at 70 rebound.
If the support at 70 is broken, the short-term forecast -resumption of downtrend- will be invalid.
We will close our open trades if the Midterm level 69.10 is broken.
Technical analysis:
A trough is formed in the daily chart at 84 on 02/23/2021, so more gains to resistance(s) 87, and maximum to Major Resistance (98) is expected.
+ Trigger:
Trigger1= 70.90 - 71.50
+ Take Profits:
TP1=75
TP2=86
TP3=98
+ Stop:
Stop1=69.10
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Possible Gap Fill - Bullish Harami FormedWe have a bullish harami pattern formed after a downtrend which is a bullish sign. Fib shows it could retrace to 0.236 ($73.62) to fill the gap and then possibly continue to 0.382 ($73.78). Looking for a 3 point move up
Mu bounces Mu baunces at resistance.
Crutial point here very strong resistance if it fails wė go to hell if no maybye duble bottom will form im longing rn
TrendyTrades: MU ChannelBullish Harami signaling a reversal he at the bottom of the channel. Gap fill above can be used as PT.
ranges and levels to trade Micron.Horizontal lines and zones are supports (entry for bulls and exit for bears) and resistances (exits for bulls and entries for bears).
Diagonal lines from Fib fan/channel are for trend-determination and additional levels for active trading.
The market is actively moving so the entries and exits constantly change. Trade small if you want to practice!
They Always Dump it before they pump it..! On August 4th, 2021 I published a post that micron technology could be the next WSB's Play..!
Today it is ranked 12th on their mentioned tickers! and I believe it will be the next AMD or MRNA..!
This is their famous pattern of dumping, they do it so fast to wash out everyone and then play the way they want..!
Soros is known as "The Man Who Broke the Bank of England" because of his short sale of US$10 billion worth of pounds sterling, which made him a profit of $1 billion during the 1992 Black Wednesday UK currency crisis. Based on his early studies of philosophy, Soros formulated the General Theory of Reflexivity for capital markets, which he says renders a clear picture of asset bubbles and fundamental/market value of securities, as well as value discrepancies used for shorting and swapping stocks.
What Is Reflexivity?
Reflexivity in economics is the theory that a feedback loop exists in which investors' perceptions affect economic fundamentals, which in turn changes investor perception. The theory of reflexivity has its roots in sociology, but in the world of economics and finance, its primary proponent is George Soros. Soros believes that reflexivity disproves much of mainstream economic theory and should become a major focus of economic research, and even makes grandiose claims that it "gives rise to a new morality as well as a new epistemology."
Understanding Reflexivity
The reflexivity theory states that investors don't base their decisions on reality, but rather on their perceptions of reality instead. The actions that result from these perceptions have an impact on reality, or fundamentals, which then affects investors' perceptions and thus prices. The process is self-reinforcing and tends toward disequilibrium, causing prices to become increasingly detached from reality.
Soros’s theory of reflexivity runs counter to the concepts of economic equilibrium, rational expectations, and the efficient market hypothesis. In mainstream economic theory, equilibrium prices are implied by the real economic fundamentals that determine supply and demand. Changes in economic fundamentals, such as consumer preferences and real resource scarcity, will induce market participants to bid prices up or down based on their more or less rational expectations of what economic fundamentals imply about future prices. This process includes both positive and negative feedback between prices and expectations regarding economic fundamentals, which balance each other out at a new equilibrium price. In the absence of major obstacles to communicating information regarding economic fundamentals and engaging in transactions at mutually agreed prices, this price process will tend to keep the market moving quickly and efficiently toward equilibrium.
As evidence for his theory, Soros points to the boom-bust cycle and various episodes of price bubbles followed by price crashes, when it is widely believed that prices deviate strongly from the equilibrium values implied by economic fundamentals. He often makes reference to the use of leverage and the availability of credit in initiating the process and the role of floating currency exchange rates in these episodes.
At this point, I am +99% confident that Wall Street Bets (WSB) is run by the reflexivity theory. the question is :
What is the role of "The Godfather of Color revolutions " in WSB moves?
What was his Role in Marijuana legalization and how much did he made in the Weed stocks Bubble???
To be continued..!
Reference Article:
www.investopedia.com
MU lower supportMU reached a significant low, perfect time for bulls to step in and close the gap.
I see on the lower time frame a double bottom as well, another bullish signal.
