$MU Weekly inside bar $MU building higher lows on the daily over green dotted line is weekly inside bar volume, long pre market range break 89's
MU trade ideas
Micron Technology Accurate Wave AnalysisHello community, after a 5 wave (12345) lower degree impulsive structure we expect at least a corrective structure which is wave 4 of a higher degree structure. Now the 5 wave impulse is getting completed and i expect wave 4 to begin after which there will be wave 5. I will keep updating this chart as it develops. ask your questions, Comment, like follow for more accurate ideas. Thank you.
$MU Strat/Flow/DarkPoolTrade idea based on multiple factors:
Option Flow
DarkPool Orders
Strat Broadening Formation
Significant Sized Option Flow usually shows up first.
January 15th 2021 in the case for $MU
Followed by large Darkpool orders
Strat provides a lower low on the broadening formation and opportunity for time frame continuity to go green on multiple time frames.
Contract Price for 4/16 $80 was around $7 and exit price was around $13
MU - Playing Catchup with NVDAIn 2020 eyes have been on NVDA when it comes to processing power while MU lagged in performance. This raises the question whether 2021 the stock will be able to catch up.
The Moetley Fool (MTFL) has published an interesting read on this (www.fool.com). Fundamentally MU trades at a significant discount from a value perspective and overall analyst consensus is rather bullish with a $98 price tag.
From a thematic perspective I believe both, MU and NVDA, have a good reason to part of a diversified portfolio. Despite many similarities the companies have some key differentiators. While NVDA is mainly a GPU play, MU is a key-player in the RAM space.
Some key fundamentals on MU (vs. NVDA);
- P/E ratio 19.57 (51.18)
- PtS 3.81 (21.64)
- Book Value per share 35.73 (24.77)
- RoE 7.85% (28.82%)
- Profit Margin 12.61% (25.89%
- Int. Cov. 28.19 (88.6)
- FCF 11.84% (25.6%)
Personally I seek to add MU around current levels as I believe there is good upside in the medium term and there is a definitely potential room for higher valuations.
For the entry I turn to technicals;
- The stock has sold of it's all time high ($87) and currently sits around the 50% Fib Retracement around $78
- A pennant is forming which is usually a bullish sign
- Stock is trying to breach the $80 gap formed in the recent market selloff on Wed.
- MACD is still bullish although it seems to loose some steam starting to form a short term crossover
- RSI is around 50 (neutral)
My trade:
- Aiming to buy around $80 levels to ensure the gap is closed.
- SL around $70 (just below 78% Fib Retracement that indicates support)
- TP in line with Analyst Est. around $98
As usual my SL will be dynamic to the upside to protect profits.
***This is my personal view and does not represent investment advice. Risk management is key, do not trade what you cant afford to loose.***
Long Upon Completion of Retracement WaveNASDAQ:MU
Micron is on Flat Retracement Wave.
If the wave were completed around / slightly beyond end of wave A, it is confluence with
Fib 123%
Supported on Point of Control (Volume Profile Analysis)
It is then potentially ride its next impulsive wave to challenge the previous swing high (TP).
MU Wave 5 Micron Technologies (MU) had a quick wave 4 retracement before a potential wave 5. Wave 4 already tapped in the .236 retracement and waiting on price to come closer to the Daily Ichimoku Cloud. The semiconductor sector has been up and down, but I'm looking for MU to follow Taiwan Semiconductor (TSM).
