MU trade ideas
55.Since it did reach 55. in February supply has been taking over. And the only time it did since showed some buyers interest was when it tested 85. where it showed the whole time it was there major supply presence. A break under the 70. area on maintained supply would give even more confident confirmation that it is moving toward the 55. area.
On the weekly we can see how the 83. area has been a responsive zone for the last 10 weeks. Especially when after these 10 weeks of price testing it and showing demand weakening it dropped to the 70. area on heavy supply closed on a bearish engulfing.
So would not consider any serious buy unless it would break upside 84. showing major SOS.
Considering that a retracement could go to the 75. area before seeing any further drop, which would be good since it could provide a even better sell entry with a tight stoploss.
[Analysis] Micron (MU)(US)Chips shortage is the talk of the town! Demand in Semiconductor is higher than ever.
The current 30% retracement on Micron from its high at 96.5, is a great opportunity for investors and traders who are looking to get in. Lower revenue for 2019 and 2020 might seems worrying but, Q1 to Q3 2021 earnings hint that Micron is on the right path for recovery.
69.00 is the immediate support but a further drop to the consolidation some at 58.00-64.00 is highly possible. Traders/Investors should have plans if such a scenario occurs.
Anything below 55.00 is dangerous and we should not be held beyond that.
We love to buy low sell high, but we buy low on uptrend counters!
MU:Undervalued Stock and Strong SupportMU has been beaten down lately with a decreasing quarter revenue earnings since 2018 and recently it has established a strong Support Demand Zone at $69. Net margin contraction has also played contributed into the press. Earnings is coming up in October and it is expected to be better. From $69 bottom support to the upcoming resistance at $72/$74 with Fibo of 0.5, the trend has changed to be an uptrend. Gives a solid amount of 7% of upside. Eventually would like to see MU to reach $80 range.
MU's MACD is oversold, RSI oversold and it is crawling to the upside trend making higher highs. Seems like a recovery back up.
Fundamentally and Technically seems good with positive earnings coming up and a strong support rebounding.
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MU: Can the trendline hold?Gapped down and broke out of the channel yesterday.
However, the longer term up trendline + horizontal line supported the price. The big volume looks like it has exhausted all the sellers as well.
Since on a longer term MU is still in an uptrend, let's see if we can get a bounce up back to close the gap for a nice 2.5 R/R
Disclaimer: I'm not giving any trading and investing advice. I'm just sharing my chart observations.
If you have any symbols that you'd like me to analyze, feel free to drop me a comment.
MU saw some people on Bezinga Stream floundering on this..This shows MACD Bullish Divergence and thats to $92. My path shows to $120-128. Chart looks really. Good. I used the Cloud this time to find the same move in the past. As i think its more reliable when you can find price action dip into the cloud the same way and with the same kind of candles that have been painted. I customized this Cloud way out of wack from the standard I dont know what possessed me to use the settings I have but It has been very reliable.
by iCantw84it
07.30.2021
MU - MICRON TECHNOLOGY, INC - DAILY - RISE UPMidterm forecast:
While the price is under the resistance of 74, a resumption of an uptrend is expected.
We make sure when the support at 70 rebound.
If the support at 70 is broken, the short-term forecast -resumption of downtrend- will be invalid.
We will close our open trades if the Midterm level 69.10 is broken.
Technical analysis:
A trough is formed in the daily chart at 84 on 02/23/2021, so more gains to resistance(s) 87, and maximum to Major Resistance (98) is expected.
+ Trigger:
Trigger1= 70.90 - 71.50
+ Take Profits:
TP1=75
TP2=86
TP3=98
+ Stop:
Stop1=69.10
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ranges and levels to trade Micron.Horizontal lines and zones are supports (entry for bulls and exit for bears) and resistances (exits for bulls and entries for bears).
Diagonal lines from Fib fan/channel are for trend-determination and additional levels for active trading.
The market is actively moving so the entries and exits constantly change. Trade small if you want to practice!