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Micron Technology - This Stock Will Double Soon!Micron Technology ( NASDAQ:MU ) is retesting massive support: Click chart above to see the detailed analysis👆🏻 After we saw a test of the resistance trendline on Micron Technology a couple of months ago, it was quite likely that we will eventually retest the previous all time high. This structure is now acting as massive support and together with the rising trendline, we will see a bullish rejection. Levels to watch: $90, $180 Keep your long term vision, Philip (BasicTrading)
NASDAQ:MULong
by basictradingtv
15
Micron Reports Earnings Next Week. What Do Its Charts Say?High-end chip designer Micron Technology NASDAQ:MU will report earnings next Wednesday (Dec. 18), with analysts looking for about 84% in year-over-year revenue growth -- representing what would be the third straight quarter of 80%+ annual sales gains. Let’s see what MU’s fundamental and technical analysis say heading into the report. Micron’s Fundamental Analysis MU management has previously guided its fiscal Q1 results to $1.74 in adjusted earnings per share on $8.7 billion of revenue. However, analysts’ consensus view as I write this is calling for Micron to do even better -- $1.77 in non-GAAP EPS on $8.7 billion in revenues. That would compare nicely to the $0.95 per share non-GAAP loss that the firm saw on $4.73 billion of revenues in the same period last year. Of the 22 sell-side analysts that I found who track Micron, 12 have increased their fiscal Q1 earnings estimates recently, while 10 have cut them. But as noted above, analysts’ consensus estimate looks for the company to continue its recent string of 80%+ year-over-year revenue gains. Clearly, the buildout of large language models and other AI-related needs has ramped up the need for Micron’s memory chips. Micron has certainly been an operating-cash-flow beast, but has also spent plenty of that incoming money on new equipment. On one hand, the firm generated $3.4 billion of operating cash flow during its fiscal Q4 ended Aug. 29, along with $8.5 billion for the trailing 12 months that concluded at that time. However, capital expenditures (“capex”) during fiscal Q4 totaled $3.1 billion, as well as $8.4 billion in the 12 months ended Aug. 29. So, free cash flow was positive, but not by all that comfortable a margin. Looking at the balance sheet, MU had an $8.1 billion cash position as of Aug. 29, along with $8.9 billion in inventories and $24.4 billion in total current assets. Current liabilities added up to $9.3 billion, which included $106 million in shorter-term debt and $766 million of unearned revenue. That left the firm's current and quick ratios at 2.64 and 1.68, respectively. That's quite strong by Wall Street norms, especially for an inventory-intensive business. Total assets amounted to $69.4 billion, which included just the smallest amount of goodwill and other intangibles. Meanwhile, total liabilities less equity came in at $24.3 billion. That included $11.2 billion in long-term debt – a level that doesn’t look like the end of the world, but that Micron will probably need to manage over time. Still, MU’s balance sheet appears healthy overall by industry norms. Technically Speaking ... Now let’s look at Micron’s chart going back to April 2022: Readers will see that the stock rallied more than 200% from its $48.45 September 2022 intraday low to its $157.54 June 2024 intraday high. MU then pulled back between July and September of this year, but found support at close to the 61.8% Fibonacci retracement level of the entire 2022-2024 rally. That set up the range that the stock has been trading in ever since. Now let’s zoom in and look at Micron’s chart from just April 2024 to December 2024: In this time frame, readers will see that MU has been trading within a series of lower highs and higher lows -- creating what’s called a “pennant” formation (denoted by the purple lines above). Micron’s pennant appears to be closing as earnings approach, which could be significant. Historically, violent market reactions often ensue when a stock’s pennant or triangle pattern closes. MU isn’t far from breaking below the pennant’s lower trendline. Should that happen, there will be nothing technical standing between that trendline and Micron’s August/September double-bottom lows. Also note that Micron is trading below its 21-day Exponential Moving Average (or “EMA,” marked with a green line), its 50-day Simple Moving Average (or “SMA,” denoted with a blue line) and its 200-day SMA (the red line). This sets up a series of obstacles that could serve as resistance. That said, taking and holding these levels could bring the swing crowd on board, while also forcing portfolio managers to increase long-side exposure. Meanwhile, readers will see a largely neutral reading for Micron’s Relative Strength Index, as denoted by the gray line at the chart’s top. Similarly, MU’s Moving Average Convergence Divergence indicator (or “MACD,” marked with gold and black lines and blue bars at the chart’s bottom) tells us very little. All three components -- the histogram of the 9-day EMA (blue bars), the 12-day Exponential Moving average (or “EMA,” marked with a black line) and the 26-day EMA (gold line) are running together. They’re also all close to zero, which is historically a neutral sign. (Moomoo Markets Commentator Stephen “Sarge” Guilfoyle had no position in MU at the time of writing this column.) This article discusses technical analysis, other approaches, including fundamental analysis, may offer very different views. The examples provided are for illustrative purposes only and are not intended to be reflective of the results you can expect to achieve. Specific security charts used are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. This content is also not a research report and is not intended to serve as the basis for any investment decision. 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NASDAQ:MU
by moomoo
5
Micron Technology (MU) Stock Drops 16%Micron Technology (MU) Stock Drops 16% On Wednesday, Micron Technology released its quarterly earnings report after the main trading session closed. The results aligned closely with analysts' expectations: earnings per share came in at $1.79, slightly above the forecast of $1.76, while revenue met projections at $8.71 billion. Despite meeting estimates, the chipmaker issued a disappointing forecast for the next quarter, citing weak demand for personal computers (PCs) and smartphones. This overshadowed positive projections for the growth of the artificial intelligence (AI) chip market. Morningstar analyst William Kerwin warned of a potential "significant decline" in revenue from chips used in smartphones and PCs in 2025, driven by challenging market conditions. As a result, Micron Technology's stock opened Thursday's session with a significant bearish gap and continued to slide throughout the day, closing 16% lower than Wednesday's closing price. The chart of Micron Technology shares reveals bearish signals, as the price has broken below the support line of the long-term upward channel defined by key reversal points. Currently, the stock is hovering around the $85.50 support level, which successfully halted the bearish momentum in August and September. However, with market sentiment dampened by Jerome Powell’s cautious comments about the pace of rate cuts in 2025, MU shares may face further downside. If this happens, the downward channel (highlighted in red) could become the dominant trend. Analysts remain optimistic despite recent developments. According to TipRanks: → 23 out of 24 analysts recommend buying MU stock. → The average 12-month price target is $153.05. That said, if the stock continues to deviate from the blue upward channel, analysts may adjust their price targets downwards to reflect the changing outlook. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
NASDAQ:MU
by FXOpen
2
Micron ($MU) is Poised for Action – Here’s What’s ComingMicron is sitting at a major decision point, and the next move could be big. Here’s the game plan: If we drop below $84: Things could get bumpy, with possible corrections to $74, $70, or even $63–$64. If we break above $93: The sky’s the limit, with targets at $100, $110, and maybe even $138 on the horizon. This is one to watch closely. Big moves are coming, so stay sharp and ready to ride the wave! Kris/Mindbloome Exchange Trade What You See
NASDAQ:MU
by Mindbloome-Trading
MU is ready for a quick bounce here.Support and Resistance: The stock has recently tested and held a strong support level, suggesting buyers are stepping in at this critical zone. Initial resistance lies ahead, which could act as a short-term target if the bounce gains momentum. Trend and Moving Averages: Although the broader trend has been neutral to slightly bearish, recent price action suggests the potential for a reversal. Moving averages are starting to converge, with shorter-term averages flattening out, signaling reduced downward pressure. Volume: Volume spikes near support indicate accumulation, with buyers showing renewed interest at current levels. Indicators: RSI has bounced from oversold territory and is trending upward, confirming a potential shift in momentum. MACD is showing signs of a bullish crossover, further indicating a possible move higher in the near term. Reversal and Bounce Setup: The stock’s ability to hold support and form higher intraday lows suggests it is positioned for a bounce. A break above resistance could trigger further upside and validate the recovery.
NASDAQ:MULong
by RNR80S
Micron ($MU) is Poised for Action – Here’s What’s ComingMicron is sitting at a major decision point, and the next move could be big. Here’s the game plan: If we drop below $84: Things could get bumpy, with possible corrections to $74, $70, or even $63–$64. If we break above $93: The sky’s the limit, with targets at $100, $110, and maybe even $138 on the horizon. This is one to watch closely. Big moves are coming, so stay sharp and ready to ride the wave! Kris/Mindbloome Exchange Trade What You See
NASDAQ:MU
by Mindbloome-Trading
Micron (MU) is Heating Up! Breakout at $114.52 and Soar UP Key Levels to Watch: Breakout Level: $114.52 Retracement Target: $122 Major Resistance Levels: First Target: $140 Final Target: $170 What to Expect: If MU can break and close above $114.52, we could see a retracement to $122, creating a solid base for the next leg up. Once it clears $140, the path to $170 becomes much clearer. This level will be critical for the bulls, and if it’s breached, MU could be in for an exciting run! Kris/ Mindbloome Exchange Trade What You See
NASDAQ:MULong
by Mindbloome-Trading