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MICRON TECHNOLOGY INCMICRON TECHNOLOGY INCMICRON TECHNOLOGY INC

MICRON TECHNOLOGY INC

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MU trade ideas

Micron Technology: Tight Flag as 50-day SMA Turns HigherMicron Technology has staggered since the market crashed in February and March. The chip stock is very sensitive to the economy because of its reliance on the cyclical memory-chip market. If the global shutdowns continue, MU faces the risk of falling orders and prices. But if things recover, it controls a valuable corner of a strategically key industry. This feast-or-famine scenario has played out on the chart as MU hugs $45. That level was important in mid-2019 and again last December. The 50-day simple moving average (SMA) also turned positive last week. MU has a formed a mini-downtrend / bullish flag in the last month that now has breakout potential. With optimism about the economy spreading, buyers may get more active if $45 holds and resistance around $47 breaks.
NASDAQ:MU
by TradeStation
2
Micron Strong SellMicron is struggling below the 200 day and 50 moving average and could potentially break through the March lows. In march, the stock broke through support trendline and a retest is likely to occur. I am buying January puts in Micron (MU) and am looking for it to retest the lows. After it retest march lows, I will convert my PUT option into a PUT VERTICAL to collect the premium (as to lock some profit).Currently, I bought the January 40 strike Put. With semiconductor ETF being near the highs and this stock being the middle of the range, I am selling one of the weaker semiconductors stocks. If the stock market rolls over in the next 3 weeks, this trade will do very well as semiconductors are volatile and trade more with greed & fear vs safety/defensive stocks.
NASDAQ:MUShort
by TheBulltrader
3