MUWith the current macro environment, MU looks like its going to break recent support and head back to the mid $50s.
MU trade ideas
MU: Gap FillMU is sitting at support and has been range bound. I am anticipating that MU will stay in this range and head upwards to fill the gap at around $75. However, I do not foresee it going beyond that in the near term.
Not financial advice
MU Trading range 2 months Lots of bad news priced in. Based on earnings forecast, not too much of an upside too. So range bound for a while in these well respected support and resistance lines
MU at support but showing signs of falling throughMU has a strong support / resistance line at the $65 mark. On the weekly chart we can see an RSI divergence. The daily chart shows it has a strong possibility of rebounding off support once again.
Traders should watch the ticker at the current price levels and channels. If it pops out of the current channel on the daily chart, traders should take an aggressive long position as a swing trade. If it falls through the support level of $65 then traders should take a short position, and could honestly trade at multiple time and price targets as it will likely fall first fast (as it has cracked support) but then continue to fall for a while longer.
Micron testing supportMicron (MU) continues to test long term support. There's nothing actionable at the moment, but there could be in the near future.
Perhaps we break the countertrend structure to buy this stock OR we break the support structure currently supporting the price offering us the opportunity to short.
We'll be keeping an eye on this stock to see when or if we're offered the opportunity to setup a trade idea on it.
Potential Trendline Breakout in Micron TechnologyMicron Technology has held up better than most big technology stocks. Now it could be showing some interesting patterns to the bulls.
First, consider how the memory-chip maker’s low in 2022 is $65.86, or $0.19 above the level where it bottomed in October. In contrast the broader Philadelphia Semiconductor Index recently hit levels from March 2021. MU’s ability to hold its fourth-quarter highs is a potential sign of relative strength.
Next you have the falling trendline that began in March 2022. Prices bucked this resistance in mid-May and now seem to have moved through it.
Third, the bounce has planted the stock above its 50-day simple moving average (SMA). The 8-day exponential moving average (EMA) is also above the 21-day EMA, which may indicate its short-term trend has turned bullish.
Finally, MU has a strong earnings history. It tried to rally after the last two reports but was swept lower along with the broader market. That may give buyers a reason to return to the company.
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MU - Target 55Nice double top - Adam and Adam.
Close below 65.87 will confirm downward trend.
Will potentially enter short position today.
MU time to buy?Micron Technology
Short Term - We look to Buy at 66.27 (stop at 64.82)
Preferred trade is to buy on dips. Previous support located at 66.00. Although the anticipated move higher is corrective, it does offer ample risk/reward today. Expect trading to remain mixed and volatile. Dips continue to attract buyers.
Our profit targets will be 71.40 and 74.49
Resistance: 74.00 / 86.00 / 96.00
Support: 66.00 / 61.00 / 42.00
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A Bullish View For MUIn both cases a bullish rising wedge is evident, while with a climb and transition through 2.618
I have made Bearish posts for MU based on this Rising Wedge pattern but now I can view it as in a bullish state due to the prior rising wedge and how it acted
Weekly Chart
Short on MU Lower High with Break of Structure
BOS with pullback into resistance.
Buy puts on continuation lower
Micron technology has another uptrend Micron technology has another uptrend to complete diametric pattern and then down to come back all this rise
mu buymu buy ... 1] buy after the break , above the resistance 1 and 200 ma ... finally target resistance 3 .... . 2] buy above the support level at 68.15 ... finally target resistance 3 ....
what a beautiful setup here! <3 MU is sitting in load zone and above strong supports, a move above 71.92 will send this on another crazy bull run!
but there's not much support below 65.38, so if this area breaks shorts can pay.
patiently waiting for a trigger break, but I like what I see! Please don't forget to like and follow if you enjoy my analysis.. thank you and I hope you all have a great weekend. :)
Micron tech chart4 hour descending channel, double tops on monthly timeframe with scoops. Bais is bearish once price comes for the third touch on the 4 hour timeframe.. let's me know what you see guys
MU will go down for 20 points in no time... CLosing this like tis would be bearish and i think can tag 74 next...
we will se if it happens but i think this looks like shit!
MU breaking above pivotMU is trying to bounce of long time support ($65.65) and has just taken out a swing low from 4/18 ($69.75)
From here there is room to retest highs at $76.00
It does need to break above $70 again in my opinion.
Trade idea:
Entry: Above $70.00
Target: $75.00
Contract idea: $75c 6/13 (currently trading at $1.00)
Stop Loss: 65.50
Disclaimer: This is not a trade signal, This is just a trade idea. Trade at your own risk
Near term idea on MUThe resistance to look at are $74 and $76 (mid BB/Fibonacci).
If the rally continue it would be possible for it to go to $78.5 - $80 (H4/Daily mid BB/Fibo)
MU just breakout from the bearish trend line and looking for more upside in H1.
Since NASDAQ and S&P 500 show sign of strength after rejecting the 50% Fibo level this lean to Bullish Trend.
Worst case if it fail to stay bullish, support to look at are at $68, $64 and $60 (Daily Fibo).
MU - Will look for support in the low 60sThe impulse from early 2020 was finished at 98.45 and the corrective structure leads to a test of the low 60s, which is a confluence of 50-61.8% retracement, an important resistance level, and 161,8% A-B extension.
I expect a bounce from the yellow area, and will look for long trades if we get a solid bullish reaction.
MUMU closed the week at 70.13. If MU can break underneath 68.16, we can see MU flush significantly lower and test 63 next. Puts can work underneath 68.
Is there more downside to Micron Technology?!I still think there is more downside to MU.
I was right on my first analysis, now let's see if Ninja will do it again.
Over all I am bearish on MU up until a day or two before earnings, even with the possibility of going into earnings.
I posted all of my entries, stops, & take profits on the photo.
