MU buyingAfter confirming the breach of the previous channel, the next target is the ceiling of the new channel, which is level 145.
MU trade ideas
10/27/204 - Sunday Night Analysis - MU - ShortBased on:
Technical Analysis
Fundamentals
Trend Analysis
CRT and FVG
Short MU temporarily.
Difference between candles and barsHey traders and investors!
What is the difference between using candles or bars on a chart?
This example clearly shows the key difference. Take note of the closing price of the candle on September 26 (point 8 of the range). On a candlestick chart, this is impossible to understand. On a bar chart, the closing price is clearly visible. The closing price is below the range boundary of 111.34, the trading volume is enormous, and the buyer was unable to break above the range.
Now, the price has reached the range boundary of 111.34 for the second time on increased volume, and the seller has absorbed the buyer, forming a buyer's zone at the upper boundary of the range. There is a high probability of further price decline within the short vector 8-9 of the range (potential target 85.92). However, there are threats along the seller's path.
You might consider buying at the 98.7 level (if buyer will protect it) or around 84-86.
Good luck with your trading and investments!
Inverse head and shouldersAn inverted head and shoulders is almost complete
Price can get a strong upside boost during next weeks
Opening (IRA): MU Nov 15th 95 Covered Call... for a 92.53 debit.
Comments: Post-earnings, IV remains somewhat decent here at 45.2%. Selling the -80 delta call against long stock to emulate the metrics of a 20 delta short put, but with built-in short call defense.
Metrics:
Buying Power Effect/Break Even: 92.53/share
Max Profit: 2.47
ROC at Max: 2.67%
50% Max: 1.24
ROC at 50% Max: 1.33%
Will generally look to take profit at 50% max, roll out the short call on test.
MU108.50 above trendline breakout possible
SL 10
111/112/113.50/116/119/123/127 TARGET
Gap fill possible
MU Chart looking very good !
If you don't have any position yet, wait for it to breakout of the red area and retest.
will update for entry! STAY TUNED
The importance of the length of the linear regression channelYou can see here that a linear regression channel that starts as early as September 2022 explains why Micron shares are now rising.
MU - Time to build long positionMU is pulling back on low volume to fill the earning gap.
Started a small long position, this has scope to go further down to fill the gap completely.
If so, Around 95-96 is the good entry
Long around - 95-96
Stop Loss - 90
Target 1 - 120
Target 2 - 130
Target 3 - 135-140
$MU with a bullish outlook following its earnings #StocksThe PEAD projected a bullish outlook for NASDAQ:MU after a positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 75%.
97-100 per share soon. Long term buy structure See my blue zones below and buy when its in the zone.
This has seen to much selling pressure and just hit major support dating back a few years. Only way this fails is if the company looses its backbone during earnings.
MU 0.618 Fib retraction since gap -LONGMU has retracted to 0.618 Fib retraction since gap up with a little bounce, support in the area - long, target 131
MU ,bulls looks don't want to repeat past mistake Last time big gap was created and was filled much later ... this time bulls don't want to repeat the same mistake.. (looks like )
Micron Technology – New Growth Cycle Key Supporting Arguments
▪ Rising sales of AI-enabled smartphones and PCs
▪ Favorable pricing environment for memory chips in the upcoming quarters
▪ A quarterly report that will be released on September 25 is expected to be strong and provide a more positive outlook for this quarter and the year
▪ Micron Technology has resumed its buyback program
Investment Thesis
Rising sales of AI-enabled smartphones and PCs. The robust sales of AI smartphones, including Apple and Samsung devices, along with a new PC refresh cycle in the coming quarters, should bolster sales of the company’s memory chips. In the second quarter of 2024, sales of AI-enabled PCs increased by more than 100%, contributing 85% to the quarterly sales growth. According to IDC’s initial estimates, PC and smartphone sales growth will further accelerate in the third quarter, and the penetration of memory chip-intensive AI devices will continue to expand. Micron Technology’s management projects that AI-enabled PCs will have on average 40-80% more DRAM, and DRAM in AI smartphones will increase by 50- 100%, which will bolster the growth in demand for DRAM chips. Minimum SSD capacity for AI-enabled PCs has already doubled, while the expansion of SSD capacity in smartphones is driven by an increasing share of premium fullconfigured devices in total sales. Major U.S. telecommunications companies have independently reported extremely strong demand for iPhone 16, with consumers favoring more expensive models.
Favorable pricing environment for memory chips in the upcoming quarters. Recent data from TrendForce and comments from Micron management suggest that pricing environment remains favorable. DRAM chip prices are expected to rise by approximately 11% through the third quarter of 2024. Since August, Samsung and SK Hynix have raised the prices of DDR5 chips by 15-20%, and Micron will undoubtedly follow suit. This price increase, combined with a growing share of HBM sales, will significantly boost Micron’s ASP of DRAM chips in the fourth quarter. Although price trends in the NAND segment have been slightly weaker than expected because customers over-accumulated inventories in the first half of 2024 in anticipation of higher prices. Nevertheless, the overall positive trend in the NAND segment remains intact.
The quarterly report to be released on September 25 is supposed to be strong, with a more optimistic outlook for the quarter and the year. In early August, Micron Technology resumed its share buyback program, indicating management’s confidence in the company’s business performance. Ahead of the report, several investment firms have revised downward their financial forecasts for the company, which reduces the risk of unmet expectations. Contracts with industry leaders, anticipated price increases, and the rising shipments of HBM memory and SSDs for the B2B segment set a positive tone for Micron Technology, whose stock has been heavily oversold in recent months.
Our price target for Micron Technology (MU) over a two-month horizon is $109, with a “Buy” rating. We recommend setting a stop-loss at $78.
MU Micron Technology Options Ahead of EarningsIf you haven`t bought MU before the breakout:
Now analyzing the options chain and the chart patterns of MU Micron Technology prior to the earnings report this week,
I would consider purchasing the 90usd strike price Calls with
an expiration date of 2024-10-18,
for a premium of approximately $6.50.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
MU Update: Ready to Test New Highs?Continuing from my last two ideas on NASDAQ:MU , the double-bottom formation still has potential. There's an unclosed gap around $123 that should be closed, and I see similarities between the earnings surge back in March and the current one in September. If this plays out, my price target is $137.13, with a possible test of the all-time high at $157.
My Trade Plan: I'll be looking for a retest of the 150-day MA for support before entering, aiming for ~20% profit. However, it's crucial to monitor the volume closely.
What are your thoughts? Are you bullish or bearish on MU, and where do you see it heading next?
MU: Gap, Pause, Run?Someone recently showed me this 'simple strategy' and I've had some success with it. The idea is, a stock gaps up big, like MU did on this chart back in March and again on September 26th. After the gap up you watch for a pause. The pause can be a day, few days, or even a week, doesn't matter. If the stock falls back down and closes the gap (or get's close), the trade idea is over. But if it trades sideways for a bit and then breaks above the high of the initial gap up candle, in this case 114.80 on 9/26, you enter.
Entry: above 114.80
Volume: strong volume
Target: no target, close the trade when price closes below the 5 or 10 Moving Average.
Stop: depends on your risk tolerance; My plan is the low of the gap up candle, in this case 107.53.
This LONG swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not enter a trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
Micron Technology (MU) Shares Surge by Approximately 15%Micron Technology (MU) Shares Surge by Approximately 15%
The US stock market is experiencing positive momentum following the much-anticipated decision by the Federal Reserve to cut interest rates this month. The S&P 500 (US SPX 500 mini on FXOpen) closed at a new all-time high, driven by yesterday's news of:
→ Steady US GDP growth at 3% annually
→ Low unemployment, with 218K jobless claims filed last week (forecast = 224K, previous = 222K).
One of the top performers on the stock market yesterday was memory chip maker Micron Technology (MU). As seen on the MU stock chart, yesterday's candle closed around the $110 level, up from below $95 at the start of the week.
The strong bullish momentum was driven by Micron Technology's quarterly earnings report. According to Barron’s:
→ Earnings per share reached $1.18 for the fourth fiscal quarter, beating analysts’ forecasts of $1.11;
→ Revenue grew by 93% year-on-year to $7.75 billion;
→ Micron Technologies expects revenue next quarter to be $8.7 billion, surpassing forecasts of $8.3 billion and significantly more than $4.73 billion for the same period last year;
→ Micron Technologies' CEO Sanjay Mehrotra stated that demand for AI "drove a strong ramp of our data-center DRAM products and our industry-leading high-bandwidth memory."
Technical analysis of the MU stock chart shows that the price is moving within an upward channel (marked in blue). Key points include:
→ In early September, a Rounding Bottom pattern formed near the lower boundary of the channel – a bullish sign;
→ In yesterday's broad bullish gap, the price exceeded the key $109 level, which previously acted as both support and resistance (indicated by arrows).
Bearish Outlook for MU Shares: Supply forces may emerge around the $109 level, forming a false bullish breakout, with the possibility of testing the psychological level of $100.
Bullish Outlook for MU Shares: Strong company fundamentals and a bullish stock market could drive MU shares towards the median of the upward channel.
According to TipRanks, Wall Street analysts forecast an average target price for MU shares of around $150 over the next 12 months.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
MUif 110 hold, going to 130
an upward trend in the prices of an industry's stocks or the overall rise in broad market indices, characterized by high investor confidence
Micron Technology - The perfect chart!NASDAQ:MU is one of these stocks, which just respects every level, cycle and structure.
If I would give each chart an individual rating, the chart of Micron Technology would be 10 out of 10. Micron Technology is actually respecting every structure level and providing textbook trading opportunities. If we get a retest of the previous all time high, which is now turned support and perfectly lining up with the support of the rising channel, I will certainly look for longs.
Levels to watch: $90
Keep your long term vision,
Philip - BasicTrading
MU: Trading Around a Critical Resistance Level!Since MU broke through its reversal point at $91.47, the stock has entered bullish territory, and has now reached our technical target at $111, which was set in our last public analysis on September 18, when the price was around $88 (link below this post).
Now that the technical has materialized exactly as expected, according to the evidence we had at the time, we can update our reading.
Daily Chart (Left):
Resistance at $111: The price has reached its resistance at $111, however, it needs to close above it to confirm a true breakout. If a top signal materializes below this area, then a pullback might occur.
Support at $96.18: Should a pullback occur, the $96.18 level, aligned with the 21-day EMA, can provide support. The price is comfortably trading above this area, which reinforces the bullish momentum.
Gap Resistance at $127.24: If the bullish momentum continues, the next major level to watch is the gap resistance at $127.24. Closing this gap could provide a significant boost for the stock, as it will have cleared a major technical barrier.
Weekly Chart (Right):
Double Bottom Pattern: A clear double bottom is forming around the $85 level, which typically indicates a potential reversal pattern. The price broke through the neckline at $111, but it needs to close above it to confirm this pattern.
Projected Target at $157.54: Based on the double bottom pattern, the potential target is around $157.54. This key point is the next technical resistance.
Conclusion:
MU is in a bullish phase, trying to break through the $111 resistance. With the double bottom pattern in play, the stock has room to test the $127.24 gap resistance and potentially extend toward the $157.54 target. However, should watch for possible top signals, as this could bring a pullback to the $96.18 support area, which may offer buying opportunities if the trend remains intact.
For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions.
Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation.
“To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore
All the best,
Nathan.
Multiyear breakout with retest - Ultimate setupA Semiconductor stock which is a booming and potential industry for a long term view has emerged with one of the best technical setup.
Setup: Multi year (24 years) of consolidation and breakout with volume. This coupled with retest.
Can't ask for better stock
