10/27/204 - Sunday Night Analysis - MU - ShortBased on:
Technical Analysis
Fundamentals
Trend Analysis
CRT and FVG
Short MU temporarily.
Key facts today
0.65 BRL
3.98 B BRL
128.60 B BRL
About Micron Technology
Sector
Industry
CEO
Sanjay Mehrotra
Website
Headquarters
Boise
Founded
1978
ISIN
BRMUTCBDR008
FIGI
BBG00P14K500
Micron Technology, Inc. engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU), Mobile Business Unit (MBU), Embedded Business Unit (EBU), and Storage Business Unit (SBU). The CNBU segment includes memory products and solutions sold into client, cloud server, enterprise, graphics, and networking markets. The MBU segment is involved in memory and storage products sold into smartphone and other mobile-device markets. The EBU segment focuses on memory and storage products sold into automotive, industrial, and consumer Markets. The SBU segment consists of SSDs and component-level solutions sold into enterprise and cloud, client, and consumer storage markets. The company was founded by Ward D. Parkinson, Joseph Leon Parkinson, Dennis Wilson, and Doug Pitman on October 5, 1978 and is headquartered in Boise, ID.
MU buyingAfter confirming the breach of the previous channel, the next target is the ceiling of the new channel, which is level 145.
Difference between candles and barsHey traders and investors!
What is the difference between using candles or bars on a chart?
This example clearly shows the key difference. Take note of the closing price of the candle on September 26 (point 8 of the range). On a candlestick chart, this is impossible to understand. On a bar chart,
Inverse head and shouldersAn inverted head and shoulders is almost complete
Price can get a strong upside boost during next weeks
Opening (IRA): MU Nov 15th 95 Covered Call... for a 92.53 debit.
Comments: Post-earnings, IV remains somewhat decent here at 45.2%. Selling the -80 delta call against long stock to emulate the metrics of a 20 delta short put, but with built-in short call defense.
Metrics:
Buying Power Effect/Break Even: 92.53/share
Max Profit: 2.47
RO
MU108.50 above trendline breakout possible
SL 10
111/112/113.50/116/119/123/127 TARGET
Gap fill possible
MU Chart looking very good !
If you don't have any position yet, wait for it to breakout of the red area and retest.
will update for entry! STAY TUNED
The importance of the length of the linear regression channelYou can see here that a linear regression channel that starts as early as September 2022 explains why Micron shares are now rising.
MU - Time to build long positionMU is pulling back on low volume to fill the earning gap.
Started a small long position, this has scope to go further down to fill the gap completely.
If so, Around 95-96 is the good entry
Long around - 95-96
Stop Loss - 90
Target 1 - 120
Target 2 - 130
Target 3 - 135-140
See all ideas
Displays a symbol's price movements over previous years to identify recurring trends.
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