MU trade ideas
$MU Calendar Spread Opportunity$MU just had earnings and traded way up again today. Right now I'm looking at this "congestion zone" that the stock had back in February - March of this year. I think that if $MU keeps going that it might stall out here in this zone, and that might be a good opportunity to buy a Calendar spread on $MU - a trade that takes advantage of increasing IV. I have had success buying calendars on $MU in the past.
Still Going StrongMU has continued volume and technical support.
Trend Shift Heikin Ashi showing reasonable risk values given the recent price shift
Volume confirms this assumption
Slow but steady.
Check out the TSHA indicator. Feedback appreciated.
MU - LONG - Double bottom to 52.50- Double bottom at support. Micron is ready to fly, but I will wait a lite pullback at 35.00-35.50
- Strong stock on strong indusrty (Semiconductor). MU as been upgraded by Needham, from hold to buy at 50.00 as target.
- Very trong fundamental :
> P/E 3.57
> EPS : 157.6% this year
Waiting for a lite pullback to buy and fly to 52.50 as potential and at is all time high at 64.50.
I will update it regularly. Follow MU for development.
I wish you a great trading day!
Waz-
Micron trade closed, but may get back in Monday.This is a wise time to be taking profits as it has moved 20% in a few days and as pointed out on the chart it has a history off selling off in they days following such a earnings beat. If the G20 summit has a positive outcome it may very well rocket higher , but in our opinion it's better to risk losing 5% to the upside rather than 20% to the downside.
MU strongBeautiful movement with MU. Looks like it moved away from that heavily bought/sold area marked R1 - With good China news - could be the fuel it needs to get above that and make a new found support. $40's sooner than later IMO
Set To Get DestroyedEarnings tonight for MU. $33 has been a huge support/resistance line for Micron over the years. With it failing to bounce on its last few tries since fading back down to $33, seeing lower highs on the most recent pop, and with an expected 76% decline in earnings this quarter...I'd be shocked if this thing popped after earnings. Best case scenario is gonna be, "earning were not as BAD as expected", but even then for them to somehow not mention something about DRAM demand being down or China affecting the outlook for the coming quarters, would be a surprise.
Looking at the December lows as the first support. Further weakness in the market, and we could easily see 26.50 in the coming days.
37.45 is the first resistance if this thing does manage a bullish move.
Micron pops on non-GAAP earnings report gimmickMicron has been looking bearish in what appeared to be an emerging downward channel. However, after hours today it popped two and a half dollars per share on the basis of a supposed earnings beat. News outlets are reporting that earnings "crushed" estimates. The problem is that the analyst estimates are for GAAP earnings, and Micron's GAAP earnings missed by several cents per share. By disclosing non-GAAP earnings, Micron used a common gimmick to appear to have beaten estimates that doesn't reflect actual strength in the company's fundamentals. Whether investors will notice this is another matter, however. The stock may stay up tomorrow regardless. But I personally wouldn't invest in it.
To Micron's credit, it did slightly beat estimates of GAAP revenue even though it missed on earnings.
MU watching Semi's this week with G20 newsMU has been beaten down for far too long - considering the amount of cash they make.
RSI coming up nicely but hoping to move to the top of that new found range it's been trading in, then the real test of R1 & R2.
Watching from the sidelines till something convincing takes place but if MU moves lower, I'm willing to enter at high $20's.
Patience with MU from my experience - So volatile with memory news with every little concern feeling like blows to the gut - most of which is overplayed IMO - as is a lot of things with the market I guess!
GLTA
MU is ready to jumpIt was a necessary correction in order to make the growth even higher. Just only jump on the rocket before the earnings date, because the report will be good
There can't be much more bad news to come, Risking a long.Seems like Analysts have been tripping over one another to downgrade Micron for the past year, at this stage we don't take notice as these are they same analyst who had $80 targets when the trade war had already started. The world of trade has changed greatly but to be selling at such a p/e ratio is ridiculous, the need for their product is not going to disappear, so we think this is a great long term investment at the current level. As earnings approach next week, option traders are split and implied volatility is at 12% which is quite normal for MU. We will be taking a long into earnings.
Basing a ReversalClear indication of basing after downtrend on short time frame. RSI uptrend is being respected nicely.
$MU long from 33 targeting 40 Bottom near the support 32.8 all indicators are oversold and possible for short-term bounce targeting the breaking point at 37.9 then below 40
MU: A recount shows a wave (ii) retracement of 76.4% which be it. Maybe another small drop to complete a double bottom.
$MU Options action alert, $37 June strike Huge VolumeThese high volume options as listed on the chart are really unusual as the price action is so poor in NASDAQ:MU and sentiment within the SMH and the Tech sectors are terrible. The June G20 summit is really seen as the last chance for any change in tone towards trade with China, so investors in TECH are wishing June was over asap. On the flip side the sector is in oversold conditions and MU have earnings on June 25th.
