Micron Ahead of Earnings (Both Arguments Charted Out)I provide you both sides of the argument.
Goodluck. M or Cup and Handle?
Bear or Bull?
Economy healing or double-dip incoming?
Your choice, but be pragmatic and risk averse.
MUD trade ideas
MU long positionOn the chart we can see that the price is respecting the downsloping support.
We got one fakeout to the upside but eventually the price came back into the formation.
It the support holds, we expect that the price will break the resistance and then we should see an impulsive move to the upside.
We can entry long once the price breaks above the resistance . To avoid trading the fakeout, look for a volume increase.
Approx. target is shown on the chart.
Micron Technology (MU) DCA - Rectangle Pattern Company: Micron Technology
Ticker: MU
Exchange: NASDAQ
Sector: Technology
Introduction:
Hello, and thank you for joining me for this technical analysis. Today, we will take a close look at Micron Technology (MU), specifically focusing on a Rectangle pattern that has formed on the daily chart.
Rectangle Pattern:
The Rectangle pattern is a period of consolidation, often following a significant price move, where the price bounces between horizontal support and resistance levels. This pattern can act as either a continuation or a reversal pattern, depending on the breakout direction.
Analysis:
Over the past 355 days, MU's price has been oscillating between an upper boundary at $64.37 and a lower boundary at $48.61, forming a clear Rectangle pattern. We can identify six touch points at the upper boundary and two at the lower boundary, indicating that the price is consolidating within this range.
Currently, the price appears to be attempting a breakout above the upper boundary, which could present a long entry opportunity if successful. Furthermore, the price is positioned above the 200 EMA, suggesting a bullish market environment.
If the breakout is confirmed, the price target would be $80, representing a potential gain of approximately 24%.
Conclusion:
In conclusion, Micron Technology's daily chart shows a well-defined Rectangle pattern, signaling a period of consolidation. A breakout above the upper boundary could present a lucrative trading opportunity. As always, it's crucial to manage risk effectively and ensure your trading decisions align with your overall investment strategy.
Please note that this analysis does not constitute financial advice. Always conduct your own research before making investment decisions.
If you found this analysis helpful, please like, share, and follow for more updates. Happy trading!
Best regards,
Karim Subhieh
MuWe are on a cool off period but don’t be tricked. This is on a key breakout of a sideways considlation. We are flipping that previous reistance of the channel considlation prior
Into new support. It could take more time to build a considlation pattern on top of this but overall chart is a banger. We should contiue buying this on red days and holding.
$MU range breakout + AVWAPNASDAQ:MU
August 2022 highs/ December 2022 lows is the range mentioned in the title.
It just broke out, volume bars legitimating it.
Best entry would be 65.50's (Anchored VWAP) stop below 64.40's (needs to close under).
Red Fibonacci extensions are targets ideas: 1.272 - 69.61 $ & 1.618 - 76.79 $
Potential double bottom on weekly.
MU, 10d+/-16.43%falling cycle -16.43% more than 10 days.
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This data is analyzed by robots. Analyze historical trends based on The Adam Theory of Markets (20 moving averages/60 moving averages/120 moving averages/240 moving averages) and estimate the trend in the next 10 days. The white line is the robot's expected price, and the upper and lower horizontal line stop loss and stop profit prices have no financial basis. The results are for reference only.
Update $MU , Analysing Trends, Patterns, and IndicatorsGreetings, fellow traders! I am thrilled to present my analysis and insights on TradingView, where I will be sharing trend analysis, chart patterns, and technical indicators to help you navigate the exciting world of the stock market. It's important to note that I maintain a neutral stance and base my decisions solely on identifying promising opportunities.
As an observer of market trends, my goal is to provide you with comprehensive and visually appealing charts that showcase the potential opportunities I see. Please remember that I am not a financial advisor, and any investment decisions you make should be thoroughly researched and evaluated based on your own risk tolerance and financial goals.
In each analysis, I will walk you through the patterns and indicators I have identified, highlighting key support and resistance levels, trendlines, and other critical technical aspects. My approach is to objectively present the information and allow you to interpret it as you see fit. Whether you choose to go long or short in the stock market is entirely up to you.
My main focus is to share the knowledge and insights I have gained from studying charts and technical analysis. By doing so, I hope to contribute to your trading journey and help you become a more informed and confident trader. It is important to continuously learn and adapt to the ever-changing dynamics of the market.
I invite you to join me on this exciting journey as we explore the fascinating world of trading together. Feel free to provide feedback, ask questions, and share your own perspectives in the comments section. Your engagement and participation are greatly appreciated.
Remember, trading carries risks, and it is essential to conduct thorough due diligence before making any investment decisions. I am here to provide information, but the responsibility lies with each individual trader to make their own choices.
Thank you for taking the time to explore my charts. I hope you find value in the insights I share, and may they contribute to your trading success. Happy trading!
Disclaimer: I am not a financial advisor. The analysis and opinions expressed here are solely based on my observations and should not be considered as financial advice. Please consult with a licensed professional before making any investment decisions.
Long Trade in MUMicron is a semiconductor stock riding some of the momentum from yesterday’s earnings beat at Nvidia.
Notice the textbook breakout pattern that has formed over the last three months – a series of shallowing retracements with resistance at $64.
The 200-day moving average is finally turning up and other MA's are properly stacked and trending higher.
This is the first breakout into a new Stage 2 uptrend which is exactly where I like to buy. Look to build a position in the mid $60s if possible.
The trade sours if it closes below its 50-day moving average (red line on chart) which is currently around $62 and rising.
MU: Another Reason to be Short Chips (Inverted Chart)With Ban on Micron, China Escalates Microchip Clash With U.S. A Chinese government block on Micron
Technology’s memory chips marks how far apart the two economic powers are drifting on tech policy.
This is something that cannot be ignored, especially in light of the recent unhinged rallies for NVDA, AMD.
Analysing Trends, Patterns, and IndicatorsGreetings, fellow traders! I am thrilled to present my analysis and insights on TradingView, where I will be sharing trend analysis, chart patterns, and technical indicators to help you navigate the exciting world of the stock market. It's important to note that I maintain a neutral stance and base my decisions solely on identifying promising opportunities.
As an observer of market trends, my goal is to provide you with comprehensive and visually appealing charts that showcase the potential opportunities I see. Please remember that I am not a financial advisor, and any investment decisions you make should be thoroughly researched and evaluated based on your own risk tolerance and financial goals.
In each analysis, I will walk you through the patterns and indicators I have identified, highlighting key support and resistance levels, trendlines, and other critical technical aspects. My approach is to objectively present the information and allow you to interpret it as you see fit. Whether you choose to go long or short in the stock market is entirely up to you.
My main focus is to share the knowledge and insights I have gained from studying charts and technical analysis. By doing so, I hope to contribute to your trading journey and help you become a more informed and confident trader. It is important to continuously learn and adapt to the ever-changing dynamics of the market.
I invite you to join me on this exciting journey as we explore the fascinating world of trading together. Feel free to provide feedback, ask questions, and share your own perspectives in the comments section. Your engagement and participation are greatly appreciated.
Remember, trading carries risks, and it is essential to conduct thorough due diligence before making any investment decisions. I am here to provide information, but the responsibility lies with each individual trader to make their own choices.
Thank you for taking the time to explore my charts. I hope you find value in the insights I share, and may they contribute to your trading success. Happy trading!
Disclaimer: I am not a financial advisor. The analysis and opinions expressed here are solely based on my observations and should not be considered as financial advice. Please consult with a licensed professional before making any investment decisions.
Micron Pulls Back After Breaking OutSemiconductor stocks have been moving lately. Today’s chart focuses on memory-chip producer Micron Technology.
The first pattern to consider is the level around $64.30. MU peaked near this price in November, January, March and April. A breakout followed in mid-May followed by a pullback on Monday. Will buyers step in near the previous high, looking for old resistance to become new support?
Next, you have the series of higher lows over the last three months. That kind of ascending triangle may reflect increasing demand for the stock.
Third, MACD recently turned positive -- a potential sign of improving short-term momentum.
Finally, MU jumped on March 29 as analysts said its long-term demand cycle had bottomed. (The surge came despite weak earnings and revenue.) This month’s rallies in MU and the broader chip space may confirm the industry is back on the upswing. If that’s true, it could give investors another reason to target the $64.30 zone.
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MU Entry, Volume, Target, StopWhen price clears: 65.42
With daily volume greater than 16.2M
Target: 82.50 area
Depending on your risk tolerance: 59.73 gets you 3/1 Risk/Reward.
Resistance: 75-76 area
Nothing to show on the chart, I'm counting on a break of the long running channel on high volume.
This trade idea is not trade advice. This swing trade idea is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
MU Long Signal 5/21/2023 @ $68.17Points of Interest
MU Long Signal 5/21/2023 @ $68.17 (or Monday 5/22/23 opening price)
Shortfall hinting at breakout direction
WRB 1st week of 2023 igniting volatility/trend confirming the rectangle pattern
Rectangle pattern appears to be a bottoming/basing formation, along with the market
Current WRB is breaking out with 2 daily closes above the resistance line confirming the breakout
$65 major level broken
Breaking all key MA’s, 20/8 rising
MACD crossing above 0, confirming upside momentum
RSI at 61, not in oversold territory and confirming underlying trend upward
Risk: 2 daily closes below $65 (or 1 weekly close)
Target is to unwind in between $80-$81
