Micron Fibonacci channel Respected $mu
Fibonacci levels well respected as the stock trades within the channel $43-$44 possible if market can stabilize
MU trade ideas
Short MUTaking short position on MU yesterday. I set cover limit order at $40.70, it might gonna be filled within the next few days.
$MU Micron Upside Targets if market remains GreenMicron (NASDAQ:MU) +5.3% reports Q2 beats with revenue down 18% Y/Y. For Q3, the company sees $4.6-5.2B in revenue (consensus: $4.88B), EPS of $0.40-0.70 (consensus: $0.52), and gross margin of 29.5-32.5%.
Q2 Operating cash flow totaled $2B, down from the $3.4B in last year's quarter.
DRAM revenue was down 26% Y/Y, while bit shipments grew 20% in the period.
For NAND, revenue was up 9% Y/Y, bit shipments grew 20%, and ASPs were up on the quarter in the upper-single-digit percent range.
Adjusted gross margin was 29.1%, above the 27.2% estimate.
Micron ended the quarter with a net cash position of $2.7B. Source Seeking alpha
$Micron bullish into earnings
Reversal has been bullish but end market conditions are not improving, the virus is intensifying
Negative commentary quite possible on earnings call and a lack of clarity on future guidance
Technical factors
MACD had crossed bullishly
RSI in reversal
Stochastic bullish reversal|
Fibonacci Upside targets $46 - $48 \golden pocket sits $50
$MU Bullish setup best entry near 34 targeting 46-47Bullish candlesticks wit oversold indicators .. filled previous gaps but still there are more gaps below at 29.5 and 22
MU Recession IndicatorMU is a leading indicator for a recession, and it's almost priced for one. Looks like it's got a little further to go for the gap fill, which means short the next pump.
No position right now, but it looks to me like we're close to the bottom.... maybe.
Micron showing relative strength $mu
On the watch list for reversal trade opportunity.
Channel has held as support under severe selling pressure.
Regained 200moving average support.
MU Low Resistance ZoneMU should quickly blow through this area we we open anywhere close to 52.50. If it doesn't, remain cautious!
$MU Best entry at 49.2 targeting 56.5-57 Declined volume during falling down and good performance during sub-bounces . indicators inside oversold region and possibility of good bounce . i would prefer get in at 49.2 which is 0.62% fib and targeting the gap between 56.5 to 57
Micron Short term trade $mu
Not sure if there is enough steam left in the SMH rally for Micron to hit the 2018 highs.
Alert set for cross above $61.36
Short MUTP $56.61
SL $60.72
R:R 2.51
Risk 1%
I've been testing a new strategy the last few days. Trying to optimize things.
MU - NVDA Earnings playMU always goes up when NVDA beats, cheaper play than NVDA because there's no earnings premium.
Will probably buy at the end of the day since it's already jacked up.
MU -- coming along nicely ---- Resistance possible at $63 rangeMU -- coming along nicely ---- some resistance may be possible at $63 range --- from a previous high level from months past...(Summer of 2018 highs) . IMO... NEW BUY recommendations coming in today.(from Analysts) . IMO
Disclaimer:
Always do your own due diligence, full research, and homework, and consult with your own licensed investment professional before any investments. Any comments and analysis seen here are personal opinions, and we are not registered or licensed in any jurisdiction whatsoever to provide any investing advice. Any analysis, charting and comments should never be used for the purposes of assisting in any advisory decisions with any stock purchase or sale, and never to be used on the basis of making any kind of investment decisions. It is for the sole purposes of opinions and thoughts only of the markets. Thank you.
MU (Micron) 06/02/20• Further upside. supported by 55 EMA.
• Earning boosted.
• Raymond James upgrades Micron (NASDAQ:MU) Market Perform to Strong Buy with a $70 price target.
• Analyst Chris Caso thinks supply/demand conditions are "highly likely to improve further as the year progresses" and that inventory levels are "approaching normalized levels."
• Caso sees a number of growth catalysts ahead that could drive "significantly improved demand" in H2.
• Micron shares are up 2.4% pre-market to $58.13. The company has a Bullish average Sell Side rating.
MU --- great movement as seen from Jan 31 BUY IN. point.MU --- great movement as seen from Jan 31 BUY IN. point....as it rides the channel.
Always use stop losses and take some profits off the table at your own discretion.
Disclaimer:
Always do your own due diligence, full research, and homework, and consult with your own licensed investment professional before any investments. Any comments and analysis seen here are personal opinions, and we are not registered or licensed in any jurisdiction whatsoever to provide any investing advice. Any analysis, charting and comments should never be used for the purposes of assisting in any advisory decisions with any stock purchase or sale, and never to be used on the basis of making any kind of investment decisions. It is for the sole purposes of opinions and thoughts only of the markets. Thank you.
Example of a Shooting Star candle, bigger drop incoming?MU formed a Shooting Star on the Weekly chart. And looks like a Pipe Bottom is shaping. This could signal more bearish movement, at least towards the 0.382 fib level where it may find enough support and consolidate. Looking to buy at that level if support shows strength.
