MU trade ideas
Micron (MU)... Your GetOut of Semi Conductor Jail Card ?MU has suffered on recent tech sector weakness.
If you believe this will reverse them MU may be your horse.
1. The price has retreated nearly .382 % from the Aug 2020 to April 2021 range.
2. There is a Harmonic Butterfly setup forming as well as an ABCD pattern.
3. Margins should expand for the company due to the under supplied DRAM market
4 MU's earning period ends this month and they report at the end of June.
5. Harmonic Butterfly patterns may extend as much as1.618% which is marked as the bottom of the reversal zone.
I would not be in a hurry to jump on this trade,
Pay attention to the broad markets especially the TECH sector sentiment.
Let it get a head of stream which is why my entry is above current levels
AS always D(o)Y(our)O(wn)D(ue)D(iligence)
S.
Trading Idea - Micron TechnologyBUY
ENTRY: 87.72 USD
TARGET: 95.51 USD (+9%)
STOP: 83.16 USD
1.) rejection at the uptrend support level. uptrend continuation.
2.) retest of the resistance level expected
3.) The profit margins achieved by the company are among the highest of any listed company. The company's business is extremely profitable.
4.) The company's financial situation is excellent, which gives it considerable investment capacity.
5.) Within the weekly observation period, an upward trend can be seen above the support zone at USD 64.19.
Micron Oversold After Testing Dotcom HighsMicron Technology has stalled after a big rally. Is it time to buy the dip?
The first pattern on the memory-chip maker’s chart is the oversold condition on stochastics. Given its current uptrend, strong fundamentals and positive macro backdrop (GDP +6%), that pullback alone is interesting.
Next is a trend line running along the lows of January 27 and March 25. It held that line last week.
Third, consider the $96.96 level where MU peaked on April 12. That was its highest level since July 2000, when the stock hit a record price of $97.50. It’s not a surprise to see the shares pause around that old resistance – especially because it’s also near the $100 mark.
Overall, MU is a conventional macro/momentum story. It’s roughly doubled since the summer lows but has always been viewed as a highly cyclical chip play. Earnings have been strong for several quarters and it now has the added catalyst of automotive demand increasing.
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MU nice inside day last FridayMU nice inside day setting up for a buy through 86.50 off this major trendline.
MUMU: Bounced off KL of 86.52. Poised to recapture the upside if it holds above 20ma over time. Has an expected earnings growth rate of 93.6% for the current year (ending 08/2021). The company has a long-term growth rate of 15.7%. Current price: 87.92
MU Triple Top inside Triple TopI like the price action for a bearish play on NASDAQ:MU . This morning spiked to make a local triple top which is also creating a Daily timeframe triple top.
This is a good example of using Multiple Timeframe Analysis as I talked about in my last video idea, linked below. We are using a short term timeframe setup combined with a higher timeframe setup.
Options also have very good spreads.
Short !!!Ein extrem starker Wiederstand. wenn dieser überwunden deutliches kaufsignal. aber meiner meinung nach short !!!
$MU with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $MU after a Positive over reaction following its earnings release placing the stock in drift B
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Classic Double TopDouble Top+Crossing below the support+pullbakc and rejection = perfect short opportunity
MU: Ascending Triangle (27%), Bullish Flag (54%)Primary Target (short term):
Ascending Triangle (27%)
PT = 121.95$
Secondary Target (Long term):
Bullish Flag (54%)
PT = 148.63$
MU Breakdown of SupportOnce it broke the 87 are we cut our longs, now we are looking to find support. Double top formed so waiting to see how this plays out. If it loses 81.75 area next big support is all the way to 75 area small support at 77.
$MU might be breaking trend It could possibly be too early to tell, but MU appears to be breaking trend. Not investment advise, just some possible TA.
MU Breakout WatchMU closed the gap last week which can mean the stock is ready to move higher. Watching for a breakout here but it may just end up following the trendline and not breakout. SL below trendline
MU retest Breakout MU still has ER coming and retested the longer term trendline. Looking for this to break out and retest the 95 area if overall market stays strong. Looking for April 95 calls again.
MU bull flag Bull flag from the long term trendline. ER at end of the month should see some run up to that. Semis have been strong lately and growth sector. Took 4/16 95c at 2.7 looking for 4+
