MU trade ideas
$MU - Be patient and wait for key levels$MU consolidating at the highs failed to break and now seems to be approaching to key S/D area. I will be starting a position once $MU hits $65 and will be averaging all the way down to $62.
Micron close to a breakout enter long over 75$ .. Target ATH.
Cup and handle on yearly
Double bottom on weekly
Bull flag on daily
Check out my previous link on this stock
MU longMU broke out of down trend on all major time frames including the 2 hr, 4 hr and daily. Watch it run to 75.30 next then range into $80.
MU: Falling Wedge BreakoutMicron has been in a bearish wedge pattern since April. Price has broken out of the large resistance and I am expecting it to move much higher.
MU reversal + breakoutMU is reversing from its COVID March 2020 anchored VWAP. also forming a huge flag. I expect us to hit $74 then $82 when this breakout plays.
MU SpeculationI would expect MU to keep falling until it hits the fib retracement level. the fib level and bottom trend line intersect at the same spot which gives me a lot of confidence in the scenario.
Support becomes ResistanceChart patterns developing over a year have a much higher probability of follow-thru then their mid-term dated peers. After breaking below horizontal, the counter trend rally is closing in on descending trendline, which would indicate another fall to support at previous breakout.
Personal Opinion + TA = not investment advice
Best of Luck!
Micron Technology Inc. ($MU) Falling WedgeOn the Daily, Weekly & Monthly Timeframe Micron Technology is in a falling wedge. Should expect to see a breakout within the next 2 weeks to a month. Will be entering into some call positions when I see the volume starting to increase as well as a confirmation of the breakout through the resistance of the wedge.
$MU | WEEKLY WATCHLIST 10/25Not going to over-complicate this one. A simple cup & handle pattern spanning out for over a couple decades. It is important we keep in mind the timeframe of this chart when analyzing the stock.
We are currently pulling back from the double top at $97, and trading within a tight falling wedge pattern. With the bottom of the wedge intersecting with MAJOR demand zone between $62-65, this will be my most ideal buy zone.
At $62-65, I will start averaging into a long term bullish position on MU. I believe with time and patience, this one will pay off big time and inevitably see $100+. Much like it's counterpart $AMD did.
Micron TechnologyIt looks like there may be a new support being made at the 50% retracement level of the previous low on the weekly which could be a good going forward for long term holders. If this new support is confirmed and that the previous high was broken, we could be patient enough for a retracement up to the previous anywhere between 38% to 61% respectively. I know the semiconductor situation hasn't been solved yet but things happen and I believe in this company enough to burn time charting.
$MU possible bear pathIf bottom is not in for 4 yet we could continue to flush down closer, possibly even kiss, the 50% retracement. This is why I stress to not take a trade until breakout
$MU - weekly lookPositive signs - Volume shelf (purple line), covid low avwap , and 50% retracement support all in same area. Bounced off falling wedge TL and now we see an inverted hammer inside bar on the weekly. RSI has hidden bullish divergence and decreasing volume while declining in price
Negative sign - macd not curling yet, but this may happen on the upper TL retest
What I expect - right now I am expecting a test of the upper TL in the low 70 range. This could fail. Upon break of the TL the first PT's will be the 30 week MA / ATH AVWAP which sit at a similar level in the upper 70's (right now it is 78). I expect that level to reject and provide backtest before an even larger move occurs taking us above those levels
How to trade: I think the smart trader waits for the breakout here, so alert the TL and wait. On the TL breakout take a position looking for the AVWAP as PT. If the stock is rejected back inside the TL then close the position because it isn't ready.
$MU - could bottom be in?I got a request to look at MU a bit ago, and it just came up on my weekly inside bar scanner.
It appears to be looking for bottom for what could be a cycle wave IV. We are nearing the 50% retracement, so it is getting close to decision time. The 50% retracement sits at 64.1, and the cycle wave II avwap (covid low AVWAP) sits right at a similar level (notice the 100 extension for Y of WXY also has confluence with this level). These will provide very strong support if MU flushes lower and if it does would be a great dip buy area.
Positive signs: We are already starting to see a reversal on the RSI and macd is looking to curl and cross on the daily. Notice there is also bullish divergence on the macd and the stock is falling on decreasing volume. These are good signs, and bottom could already be in.
How to trade it from here: Well, it looks like at the very least MU wants to make a move up to test the falling wedge trendline, so super aggressive traders could grab weeklies to gamble on that. But with the state of the market and possibility of a retracement happening I don't think that is the best way to approach this. I set an alert on the upper TL and will be looking to buy the backtest of the breakout
Downside till previous resistance level24 Oct 2021
Based on weekly chart, may have more room to fall.
First support at 57/61
Short $MU CMP $72.14Short $MU CMP $72.14. Failed to claim 50 EMA. Downtrend continuation. MACD histogram turning negative. Bearish Pennant pattern. Possible short target $58-60
MU - Bull flag⬆ BULL FLAG
Price $68.02 (AH 10.20.2021)
Target $77.57/ 84.92/ 96.82
Long term $116.08 (7 months)
Stop loss $65.67
IMO
In wait to gainWe have been watching this action for a long time. Everything is fundamentally positive for it. The semiconductor crisis is good for it. The products are in demand.
Technically it will soon be possible to look for a long position. I recommend to look to buy when it gets above the 69 level. Further growth to $100 per paper. (43% Upside).
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MU. Dump or Pump?The last time we hit $97 we had an absolute dump... This time it could be different. We actually have strong support that could hold. My box is the level to hold and im expecting it to be broken and regained for a move up. I will layer in the box with a wide stop loss.
MU daily wolfe wave setup identifiedThere is a wolfe wave setup on the Daily min time frame. The projected target is calculated by extending a linear line between pivot 1 and 4 and projecting the line. This is represented as the green perforated line, as shown in the chart. The projected target is 74 which is expected to reach this price target within 14 days.
MU Acceptance at 66.23 May Bring the Next Leg up to 69.02NASDAQ:MU
The lines represent the price level that has been traded upon or will be traded.
The more it hit the line, the stronger the level.
It can be use to set profit taking price or stop loss price.
Every level is of same significant until order flow trades upon it.
DYODD.
