MU trade ideas
MUDRAM index keeps falling, and I think MU double bottoms. Not really a Motley Fool fan, but this is a good article:
www.fool.com
Guidance will suck (like SMTC). That may be what causes the market to dip next week, along with the Fed. Also watch for FedEx earnings (though their issue is mainly costs, not revenue).
Should have bought some puts this morning, but I'm expecting a rally Fri and possibly Monday.
mu-premium playvolatility is very rich in mu both on a IV percentile and IV rank. best way to take advantage is by raking it in. via credit spreads. in this play obvious trend support.
im wanting to make an iron condor, but i feel its fairly obvious there will be a bounce based on net skew.
so here are my targets. since the skew is equally weighted but near a major trend support ill begin my iron condor with a bull put spread.
margin of saftey based on implied move of april 5 expiration (+-5.10)
ive entered into a bull put spread skewed bullish 35.5-36.5 for .26
from here time to wait and allow the bounce to happen. im looking to leg into the 44-45 call spread for .26
Chip stock day trades - MULooking for ways to make money in what I expect to be a choppy market, Here's an idea....
Chip stock daytrade, check the MFI, buy when it's oversold, hold for day or 2. Works with AMD as well, you may need to adjust the MFI setting on other stocks. Default is 14.
Huge potential on MU!!!MU is about to hit 100 day MA at around 37.59 and there is a Fib resistance lvl at ~37.0
Expect it to run up before March 20th ER. RSI is also falling and is currently at the key mark of 40 for oversold.
1st TP - ~41.5 2nd TP - 42.18 3rd TP - 43.8
1st SL - 37 2nd SL - 34.11
MU PennantDecision time tomorrow, futures so far would indicate down, but who knows. Just something to watch for tomorrow, might be worth a quick play.
scalp oppbullish gartley seems to support a gap fill then retest (w likely throwback) of current channel.
Assuming it falls out of channel first of course...
MU Bullish and OversoldMU has been trading at or above its 100 day moving average since the very end of January.
Looking at RSI (2 period, 90% and 10% upper/lower bands) MU starting to touch the lower band.
On 2/11, RSI hit 23.88%. Stock moved up nicely the following days as RSI started to hit the upper band.
Although RSI is showing a lower oversold indication compared to the most previous two point around 23.88% and 21%ish, bulls may still be in charge and drive the stock price back up to continue the trend.
Long 40 MU @ $40.70.
Plan to exit somewhere around 42 in the next 4 to 7 trading days, give or take.
Cheers !
MU - RSI on the downhill- bearish biasMoving sideways in a box without determining which direction to go
Sell volume bars outnumbered buy volume bars during this consolidation/distribution phase
But one thing stands out to me is that the RSI is running downhill
Outlook: Bearish bias
