MU trade ideas
MU (Long)MU is on the strong support and technically it's ready to buy!
I think fundamentally it's nice to but this your research...
MU Short-term short for Week of 7.26MU looking weak here on the chart. We had bearish volume on Friday which we should continue into this week.
I wouldnt leave this short active longer than a day or two; nor would I enter the trade unless we get an hourly close below
49.75. As it goes lower in price, I would expect us to find more buyers.
Targets:
Target 1: 49.00
Target 2: 48.25
Target 3: 47.00
Target 4(extreme): 46.25.
Best of Luck,
--d0x
MU Inching Closer to BreakoutConsidering what AMD pulled last week. I would expect MU to show some strength. The RSI has been in an uptrend, and the stock has been respecting the trend.
Fundamentally, MU has a strong buy rating currently, which could add to its bullish case further.
#weekendchartreading #Micron $MU > 52 is a level to watchin consolidating phase
not much trending going on
one day a new trend will start
Micron Technology SELLstocks market are under the pressure of fear of 2nd wave and again LOCKDOWN.
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MU SwingTargets and stops on the chart.
Going long starting when the macd 4hr crosses over.
Best of Luck,
--d0x
$MU long $MU is a nice set up here as it’s above the Moving averages. Look long here with the 2 targets in red! Could go short if 5 minute candle closes below the 200MA.
Looking like a great options day trade breakout either way!
Bullish Charts - Golden Cross Soon, Possible BuyoutMicron Technology, Inc. engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets. The Mobile Business Unit segment offers memory products sold into smartphone, and other mobile-device markets. The Storage Business Unit segment comprises of SSDs and component-level solutions sold into enterprise and cloud, client, and consumer solid-state drive (SSD) markets, other discrete storage products sold in component and wafer forms to the removable storage markets, and sales of 3D XPoint memory. The Embedded Business Unit segment consists of memory and storage products sold into automotive, industrial, and consumer markets. The company was founded by Ward D. Parkinson, Joseph L. Parkinson, Dennis Wilson, and Doug Pitman in October 1978 and is headquartered in Boise, ID.
At current levels, I feel Micron is undervalued and unappreciated.
There are not many devices in the technology industry that do not need memory and storage. Micron can supply the memory and storage from electric vehicles to computers and spaceships to airplanes. Almost everything today needs memory including appliances and smart homes.
Micron just posted earnings and they blew past Wall Street estimates and then the company raised guidance and forecast higher earnings and revenue moving forward.
Currently, on the Daily Chart, the following indicators are Bullish...
Volume, Bullish
MACD, Bullish
RSI, Bullish
Accumulation, Bullish
Sector, Bullish
PMO is turning up, Bullish
On June 30, the 50-Day MA crossed up above the 100-Day MA, Bullish
As of today, the 50-Day MA is less than a point away from crossing up above the 200-Day MA, Bullish
Here are the indicators...
6-Jul-20 50.92
▲ Mon MU New York
6-Jul-20
50.92 Bullish Kijun Sen Cross Strong
27-May-20
49.45 Bullish Kumo Breakout
26-May-20
45.80 Bullish Chikou Span Cross
4-May-20
44.46 Bullish Senkou Span Cross
In my opinion, I think Micron is the best play in town and I also think it's a buyout target. If I were the CEO of Microsoft or another large tech giant like Apple, I wouldn't even think twice about trying to buyout Micron because down the road, everything will need memory and storage to operate.
If Micron is bought, I think the buyout would be upwards of $120 per share.
This was from 2016 and in my opinion, Micron looks better now than ever before... If it looked good in 2016, it looks amazing now!
Chipmaker Micron Gains with Speculation It's a Takeover Target
www.industryweek.com
Long!
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muafter earnings momentum may eventually carry mu back to this break out break down back test line in weeks. the chart says the line is important. went as high as 52.75 today
MU - Micron Technologies - Bullish Pennant / $49.65 Entry 0. Nice entry, after guidance, and a Bullish Pennant / Ascending Triangle forming;
1. Looking for movement above $55;
2. Looking to sell PUTS here on the July 17th Strike, to get in at a lower price;
3. Great longer term entry sub $50;
- drchelsea
MU Rising WedgeMU Idea
A clear rising wedge has formed between the dominant trendline and another trendline below this line
A inverse H&S has also formed with a possible right shoulder already printed, a possibility that it is a fake and another will be printed as a result of the rising wedge.
$MU Earnings Trade setup for Micron
Awaiting possible long on break above 200ma and Fibonacci resistance.
Catch up trade in comparison to NVDA
Broke local downtrend, while uptrend held during last weeks selling.
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$MU Micron Long Into earnings
Possible long on break from wedge and daily resistance @$49.50
Possible short on loss of support @ $47.35
Indicators are very bearish and range is tight with 200ma as resistance and 50-100ma as support.
MU has a lot of hope on its shoulders going into earnings, a good report could help reverse the SMH
THE WEEK AHEAD: MU, FDX EARNINGS; XOP, IWM, EWZEARNINGS:
MU (36/64/11.7%) announces earnings on Monday after the close. Pictured here is a 19 delta short strangle in the July expiry, paying 1.55.
FDX (46/59/11.4%) announces Tuesday after the close, with the 20 delta July 17th 115/147 paying 4.56.
EXCHANGE-TRADED FUNDS ORDERED BY RANK AND SCREENED FOR 30-DAY >35%:
EWW (59/44/12.6%)
EWZ (47/63/17.7%)
XLE (45/52/16.0%)
GDXJ (43/60/17.7%)
SMH (37/42/12.0%)
GDX (36/45/14.5%)
XOP (32/70/20.2%)
USO (13/67/16.7%)
Would probably go out to August here (54 days) ... . Looked at through the lens of what the short straddle is paying as a function of share price, it looks like I should be selling premium in XOP (20.2%), followed by EWZ (17.7%) and/or GDXJ (17.7%).
BROAD MARKET ORDERED BY RANK:
IWM (57/45/12.7%)
QQQ (38/32/<10%)
EFA (37/29/<10%)
SPY (37/34/<10%)
Small caps continue to be where the juice is at.
IRA DIVIDEND-GENERATORS
IYR (53/40/11.7%)
XLU (50/33/<10%)
EWZ (47/63/17.7%)
EWA (46/40/11.2%)
EFA (37/29/<10%)
SPY (37/34/<10%)
HYG (35/20/<10%)
EMB (20/18/<10%)
TLT (20/19/<10%)
EWZ offers both better better premium as a function of stock price than IYR at the moment, as well as slightly higher yield (3.66% for the former; 3.50% for the latter). Since I've already laddered out IYR, I may dip at the EWZ well with the 16 delta short put paying .70 in August at the 22 strike, .84 in September at the 21 ... .
