MU trade ideas
Micron Trade setup $mu Bullish above local resistance @ $45.64
Indicators and volume bullish
Trade with care markets still treacherous
$MU Micron Strong on Down days Upside POC resistance points highlighted on the chart.
Stock was strong on Friday as the market was weak, so any green market days a nice move is expected.
Micron Fibonacci channel Respected $mu
Fibonacci levels well respected as the stock trades within the channel $43-$44 possible if market can stabilize
Short MUTaking short position on MU yesterday. I set cover limit order at $40.70, it might gonna be filled within the next few days.
$MU Micron Upside Targets if market remains GreenMicron (NASDAQ:MU) +5.3% reports Q2 beats with revenue down 18% Y/Y. For Q3, the company sees $4.6-5.2B in revenue (consensus: $4.88B), EPS of $0.40-0.70 (consensus: $0.52), and gross margin of 29.5-32.5%.
Q2 Operating cash flow totaled $2B, down from the $3.4B in last year's quarter.
DRAM revenue was down 26% Y/Y, while bit shipments grew 20% in the period.
For NAND, revenue was up 9% Y/Y, bit shipments grew 20%, and ASPs were up on the quarter in the upper-single-digit percent range.
Adjusted gross margin was 29.1%, above the 27.2% estimate.
Micron ended the quarter with a net cash position of $2.7B. Source Seeking alpha
$Micron bullish into earnings
Reversal has been bullish but end market conditions are not improving, the virus is intensifying
Negative commentary quite possible on earnings call and a lack of clarity on future guidance
Technical factors
MACD had crossed bullishly
RSI in reversal
Stochastic bullish reversal|
Fibonacci Upside targets $46 - $48 \golden pocket sits $50
$MU Bullish setup best entry near 34 targeting 46-47Bullish candlesticks wit oversold indicators .. filled previous gaps but still there are more gaps below at 29.5 and 22
MU Recession IndicatorMU is a leading indicator for a recession, and it's almost priced for one. Looks like it's got a little further to go for the gap fill, which means short the next pump.
No position right now, but it looks to me like we're close to the bottom.... maybe.
Micron showing relative strength $mu
On the watch list for reversal trade opportunity.
Channel has held as support under severe selling pressure.
Regained 200moving average support.
MU Low Resistance ZoneMU should quickly blow through this area we we open anywhere close to 52.50. If it doesn't, remain cautious!
$MU Best entry at 49.2 targeting 56.5-57 Declined volume during falling down and good performance during sub-bounces . indicators inside oversold region and possibility of good bounce . i would prefer get in at 49.2 which is 0.62% fib and targeting the gap between 56.5 to 57
Micron Short term trade $mu
Not sure if there is enough steam left in the SMH rally for Micron to hit the 2018 highs.
Alert set for cross above $61.36
Short MUTP $56.61
SL $60.72
R:R 2.51
Risk 1%
I've been testing a new strategy the last few days. Trying to optimize things.
MU - NVDA Earnings playMU always goes up when NVDA beats, cheaper play than NVDA because there's no earnings premium.
Will probably buy at the end of the day since it's already jacked up.
MU -- coming along nicely ---- Resistance possible at $63 rangeMU -- coming along nicely ---- some resistance may be possible at $63 range --- from a previous high level from months past...(Summer of 2018 highs) . IMO... NEW BUY recommendations coming in today.(from Analysts) . IMO
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