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MICRON TECHNOLOGY INCMICRON TECHNOLOGY INCMICRON TECHNOLOGY INC

MICRON TECHNOLOGY INC

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MU trade ideas

Difference between candles and barsHey traders and investors! What is the difference between using candles or bars on a chart? This example clearly shows the key difference. Take note of the closing price of the candle on September 26 (point 8 of the range). On a candlestick chart, this is impossible to understand. On a bar chart, the closing price is clearly visible. The closing price is below the range boundary of 111.34, the trading volume is enormous, and the buyer was unable to break above the range. Now, the price has reached the range boundary of 111.34 for the second time on increased volume, and the seller has absorbed the buyer, forming a buyer's zone at the upper boundary of the range. There is a high probability of further price decline within the short vector 8-9 of the range (potential target 85.92). However, there are threats along the seller's path. You might consider buying at the 98.7 level (if buyer will protect it) or around 84-86. Good luck with your trading and investments!
NASDAQ:MU
by AlexeyWolf
2
Micron Technology – New Growth Cycle Key Supporting Arguments ▪ Rising sales of AI-enabled smartphones and PCs ▪ Favorable pricing environment for memory chips in the upcoming quarters ▪ A quarterly report that will be released on September 25 is expected to be strong and provide a more positive outlook for this quarter and the year ▪ Micron Technology has resumed its buyback program Investment Thesis Rising sales of AI-enabled smartphones and PCs. The robust sales of AI smartphones, including Apple and Samsung devices, along with a new PC refresh cycle in the coming quarters, should bolster sales of the company’s memory chips. In the second quarter of 2024, sales of AI-enabled PCs increased by more than 100%, contributing 85% to the quarterly sales growth. According to IDC’s initial estimates, PC and smartphone sales growth will further accelerate in the third quarter, and the penetration of memory chip-intensive AI devices will continue to expand. Micron Technology’s management projects that AI-enabled PCs will have on average 40-80% more DRAM, and DRAM in AI smartphones will increase by 50- 100%, which will bolster the growth in demand for DRAM chips. Minimum SSD capacity for AI-enabled PCs has already doubled, while the expansion of SSD capacity in smartphones is driven by an increasing share of premium fullconfigured devices in total sales. Major U.S. telecommunications companies have independently reported extremely strong demand for iPhone 16, with consumers favoring more expensive models. Favorable pricing environment for memory chips in the upcoming quarters. Recent data from TrendForce and comments from Micron management suggest that pricing environment remains favorable. DRAM chip prices are expected to rise by approximately 11% through the third quarter of 2024. Since August, Samsung and SK Hynix have raised the prices of DDR5 chips by 15-20%, and Micron will undoubtedly follow suit. This price increase, combined with a growing share of HBM sales, will significantly boost Micron’s ASP of DRAM chips in the fourth quarter. Although price trends in the NAND segment have been slightly weaker than expected because customers over-accumulated inventories in the first half of 2024 in anticipation of higher prices. Nevertheless, the overall positive trend in the NAND segment remains intact. The quarterly report to be released on September 25 is supposed to be strong, with a more optimistic outlook for the quarter and the year. In early August, Micron Technology resumed its share buyback program, indicating management’s confidence in the company’s business performance. Ahead of the report, several investment firms have revised downward their financial forecasts for the company, which reduces the risk of unmet expectations. Contracts with industry leaders, anticipated price increases, and the rising shipments of HBM memory and SSDs for the B2B segment set a positive tone for Micron Technology, whose stock has been heavily oversold in recent months. Our price target for Micron Technology (MU) over a two-month horizon is $109, with a “Buy” rating. We recommend setting a stop-loss at $78.
NASDAQ:MULong
by FreedomHolding
MU Update: Ready to Test New Highs?Continuing from my last two ideas on NASDAQ:MU , the double-bottom formation still has potential. There's an unclosed gap around $123 that should be closed, and I see similarities between the earnings surge back in March and the current one in September. If this plays out, my price target is $137.13, with a possible test of the all-time high at $157. My Trade Plan: I'll be looking for a retest of the 150-day MA for support before entering, aiming for ~20% profit. However, it's crucial to monitor the volume closely. What are your thoughts? Are you bullish or bearish on MU, and where do you see it heading next?
NASDAQ:MULong
by elka_graph
2
MU: Gap, Pause, Run?Someone recently showed me this 'simple strategy' and I've had some success with it. The idea is, a stock gaps up big, like MU did on this chart back in March and again on September 26th. After the gap up you watch for a pause. The pause can be a day, few days, or even a week, doesn't matter. If the stock falls back down and closes the gap (or get's close), the trade idea is over. But if it trades sideways for a bit and then breaks above the high of the initial gap up candle, in this case 114.80 on 9/26, you enter. Entry: above 114.80 Volume: strong volume Target: no target, close the trade when price closes below the 5 or 10 Moving Average. Stop: depends on your risk tolerance; My plan is the low of the gap up candle, in this case 107.53. This LONG swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not enter a trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
NASDAQ:MULong
by tradepatiently
Micron Technology (MU) Shares Surge by Approximately 15%Micron Technology (MU) Shares Surge by Approximately 15% The US stock market is experiencing positive momentum following the much-anticipated decision by the Federal Reserve to cut interest rates this month. The S&P 500 (US SPX 500 mini on FXOpen) closed at a new all-time high, driven by yesterday's news of: → Steady US GDP growth at 3% annually → Low unemployment, with 218K jobless claims filed last week (forecast = 224K, previous = 222K). One of the top performers on the stock market yesterday was memory chip maker Micron Technology (MU). As seen on the MU stock chart, yesterday's candle closed around the $110 level, up from below $95 at the start of the week. The strong bullish momentum was driven by Micron Technology's quarterly earnings report. According to Barron’s: → Earnings per share reached $1.18 for the fourth fiscal quarter, beating analysts’ forecasts of $1.11; → Revenue grew by 93% year-on-year to $7.75 billion; → Micron Technologies expects revenue next quarter to be $8.7 billion, surpassing forecasts of $8.3 billion and significantly more than $4.73 billion for the same period last year; → Micron Technologies' CEO Sanjay Mehrotra stated that demand for AI "drove a strong ramp of our data-center DRAM products and our industry-leading high-bandwidth memory." Technical analysis of the MU stock chart shows that the price is moving within an upward channel (marked in blue). Key points include: → In early September, a Rounding Bottom pattern formed near the lower boundary of the channel – a bullish sign; → In yesterday's broad bullish gap, the price exceeded the key $109 level, which previously acted as both support and resistance (indicated by arrows). Bearish Outlook for MU Shares: Supply forces may emerge around the $109 level, forming a false bullish breakout, with the possibility of testing the psychological level of $100. Bullish Outlook for MU Shares: Strong company fundamentals and a bullish stock market could drive MU shares towards the median of the upward channel. According to TipRanks, Wall Street analysts forecast an average target price for MU shares of around $150 over the next 12 months. 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
1
Micron Technology - The perfect chart!NASDAQ:MU is one of these stocks, which just respects every level, cycle and structure. If I would give each chart an individual rating, the chart of Micron Technology would be 10 out of 10. Micron Technology is actually respecting every structure level and providing textbook trading opportunities. If we get a retest of the previous all time high, which is now turned support and perfectly lining up with the support of the rising channel, I will certainly look for longs. Levels to watch: $90 Keep your long term vision, Philip - BasicTrading
NASDAQ:MULong
by basictradingtv
37
MU: Trading Around a Critical Resistance Level!Since MU broke through its reversal point at $91.47, the stock has entered bullish territory, and has now reached our technical target at $111, which was set in our last public analysis on September 18, when the price was around $88 (link below this post). Now that the technical has materialized exactly as expected, according to the evidence we had at the time, we can update our reading. Daily Chart (Left): Resistance at $111: The price has reached its resistance at $111, however, it needs to close above it to confirm a true breakout. If a top signal materializes below this area, then a pullback might occur. Support at $96.18: Should a pullback occur, the $96.18 level, aligned with the 21-day EMA, can provide support. The price is comfortably trading above this area, which reinforces the bullish momentum. Gap Resistance at $127.24: If the bullish momentum continues, the next major level to watch is the gap resistance at $127.24. Closing this gap could provide a significant boost for the stock, as it will have cleared a major technical barrier. Weekly Chart (Right): Double Bottom Pattern: A clear double bottom is forming around the $85 level, which typically indicates a potential reversal pattern. The price broke through the neckline at $111, but it needs to close above it to confirm this pattern. Projected Target at $157.54: Based on the double bottom pattern, the potential target is around $157.54. This key point is the next technical resistance. Conclusion: MU is in a bullish phase, trying to break through the $111 resistance. With the double bottom pattern in play, the stock has room to test the $127.24 gap resistance and potentially extend toward the $157.54 target. However, should watch for possible top signals, as this could bring a pullback to the $96.18 support area, which may offer buying opportunities if the trend remains intact. For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions. Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation. “To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore All the best, Nathan.
NASDAQ:MU
by Nathan_The_Finance_Hydra
2