MU previous max as baseLooking at upward trend based on support and downward possible trend based on previous resistance.
MU trade ideas
MICRON TECHNOLOGY now is in BUY situationHey traders, MICRON TECHNOLOGY is pushing up, breaking of the stabilization zone in sight for testing of a new zone to come.
Please LIKE & FOLLOW, thank you
MU BreakoutIn May, I was bearish on micron as we were trading in a sideways action and I thought that the S&P500 would have some form of meaningful selloff and that high volatile stocks would sell off the most. To my surprise, this stock hasn't really done anything in the past few weeks and today, I noticed that stock broke up resistance wedge.
With this wedge breakout, I bought 100 shares at $51.14 and sold a ITM $50 strike call for a credit of $3.60 = $360.
My max profit is my premium ($360) - intrinsic value of the option (51.14-50.00 = 1.14 x100 shares =$114 intrinsic value). Therefore, my max profit is $360-$114 = $246 or 4.8% in a little over a month.
By using the covered call, I am able to protect my investment at the same time as limiting my profits. I do expect this stock to go up more than 4.8%, but I prefer to also limit my losses or increase my probability of profit and that's why I chose a covered call.
Hit the like button if you want to know how this turns out. On a side note, the stock does have earnings on 6/29/2020 or in 25 days and I will most likely either close my position if its deep in the money or I will cover my position even deeper to lock in any gains in the next 25 days.
Goodluck guys.
Micron Technology, (MU) breaking outMicron technology is breaking out today from a B wave consolidating triangle as it moves towards completing its zig-zag upward correction. This is a large stock and I suspect it will top when the rest of the market tops. Moreover, with a clear technical chart, MU can be a proxy for timing major indexes.
$MUSo over the last quarter.
Only 1 analyst has maintained a "Strong Sell" opinion on this.
Only 2 are "Moderate Buy"
The remiaining 19 are "STRONG BUY".
Whatever that holds in value for you.
Placing more longsGood to see MU falls to support line once more. Adding a little bit amount of shares at this moment and will add more on 44.8 level.
MU Long, Using "MM_SMA_Swing" to find trading opportunity Add "MM_SMA_Swing" with input: Show SMA(50), Dev (1%)
Add EMA(144)
Draw trend lines, Verify the price action:
1. Wedge breakout to up side,
2. Pull back to re-test the trend line
Entry: 47
Stop: 45; when trend line break, also Below EMA144 and SMA50
Target1: 53; risk/reward=1:3
Target2: 58; risk/reward=1:5
This is a trading school homework. I need few months to practice trading plan.
If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate.
MU. Breakout before end of June4HR MACD looks promising. The squeeze is forming and its validated by the bounces off of the trendline wedge support and rejections at $49 area. I'm expecting a breakout to $52.50 with a small retracement back to $50 then continuous growth to $55 by first week of July.
MU keeps getting rejectedEspecially as it keeps getting rejected from a breakout at this critical level I wonder if we might see MU make at least a moderate leg down (and possibly even a large one).
$MU revised targets for Micron
Possible long entry above $51
target at resistance at approx $54.50
Multiple upgrades to follow today after the company raised guidance yesterday ,
the SMH has retreated this week so this may bring some love back to that sector.
$MU - Ascending triangle breakout- Potential target $58If $MU's price stays above $50 then there is a good potential for it to reach back to high 50 area. Potential target is $58. Stop loss can be set at 50SMA.
MU CALL this is my view for MU stock next week. An instant call position will be executed this monday.
Blast Off! Chart looks fantastic.
PMO, MACD, RSI & STOCHASTIC look bullish.
Blowout Earnings coming within weeks.
Looking for Micron to trade up to its old time highs of around $61.00
Long!
Micron (MU) jumps 6% in 6 minMy jaw is still on the floor. This stock looked like it was sunk after a rough week or so. Next thing I know it blows straight though my limit orders! Ah, the stock market is a wild and crazy guy (outdated SNL reference).
Micron Technology: Tight Flag as 50-day SMA Turns HigherMicron Technology has staggered since the market crashed in February and March. The chip stock is very sensitive to the economy because of its reliance on the cyclical memory-chip market.
If the global shutdowns continue, MU faces the risk of falling orders and prices. But if things recover, it controls a valuable corner of a strategically key industry.
This feast-or-famine scenario has played out on the chart as MU hugs $45. That level was important in mid-2019 and again last December. The 50-day simple moving average (SMA) also turned positive last week.
MU has a formed a mini-downtrend / bullish flag in the last month that now has breakout potential. With optimism about the economy spreading, buyers may get more active if $45 holds and resistance around $47 breaks.
Potential day trade tomorrow On the 5 min, MU appears to have broken support and is now oversold. Potential bounce.
