RectanglePrice appears to be in a horizontal trading channel.
2 touches to the bottom line and 4 touches to the top line.
This is a neutral pattern until broken.
No recommendation
MU trade ideas
Micron Tops & BottomsAs the title indicates, here are the tops and bottoms for Micron on the Daily time frame. Micron kind of trades like a commodity, lots of chatter going around about the memory chip market bottoming. Micron earnings don't look great in the near term, however, they have solid fundamentals like cash flow, a dividend, and a big market share.
I expect the recent double bottom to play out as the auto-pattern recognition thing indicates. I say this because I like $80 as a price target and I've even called the same price target last year and nearly pinned it to the dollar. Not saying i'm a chart genius maybe it's just Micron is not hard to read from a technical standpoint. It's strong fundamentals leave you with a stock that has a lot of potential and margin for loss is fairly low.
I saw buy for the long term.
A Technical Analysis on Micron Technology I did a week ago This was an idea I did more than a week ago about Micron Technology .
So far so good. I think after that textbook double bottom we are in for testing the high and see whether it will act as a resistance or are we going for the 60-70$ level.
The fundamentals look okay, the company is heavily investing in R&D, so the outlook for 2023 is bright.
I would love to hear your thoughts. What do you think about the trade?
Micro Technology (MU) Short Idea! Micron Technology (MU) short-sell potential:
Micron is under pressure today, trading down 4.70% after the chip maker reported a wider-than-expected quarterly loss and revenue that fell short of Wall Street forecasts. Micron's results were impacted by declining demand for electronics, and the company announced it will cut about 10% of its workforce.
Price action has been trending to the downside, following a couple of double top formations playing out technically. Most recently, a neckline breach around $50.55, watch for a retest, ahead of further potential selling. Targets eyed at $38.55.
MU earnings missMicron Technology (MU) reported Q1 November 2022 earnings loss of -$0.04 per share on revenue of $4.1 billion. The consensus estimate was a loss of -$0.01 per share on revenue of $4.2 billion. Revenue fell 46.9% compared to the same quarter a year ago. The company said it expects a second quarter loss of -$0.72 to -$0.52 per share on revenue of $3.6 billion to $4 billion. Here's MU levels on the 4hr ext chart:
SMA20 Triangular Trend Channel:
top = $56.53
R3 = $55.24
R2 = $53.96
R1 = $52.67
pivot = $51.39
S1 = $50.10
S2 = $48.82
S3 = $47.53
bottom = $46.25
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Micron Announces Layoffs for 2023; Sales Could Dive 50%Semiconductor company Micron Technology (MU) just announced it will cut 10% of its workforce in 2023 as it braces for revenue to drop more than 50%. Micron's revenue is not the only thing at risk of dropping next year though -- its stock price could be starting what may ultimately end up being a years-long descent.
The above yearly chart (also reproduced below) shows that Micron's price was rejected at a major resistance level.
The Stochastic RSI shows that yearly momentum is beginning to roll over from overextended levels. This is quite bearish looking.
The combination of Micron's price being rejected from a major resistance level and momentum rolling over on the yearly chart could signify that Micron is entering a period of prolonged decline.
This trend, however, is not unique to Micron. In one of my prior posts, I explain that the entire S&P 500 is at risk of further decline. (See below post for more details)
Yet, not all hope is lost. On the quarterly timeframe, Micron's price is potentially forming bullish reversal candles at the mean of its regression channel.
For those who are unfamiliar with a regression channel, it simply indicates how far above or below the mean (or average) price an asset's current price is trading. In the regression channel above, the red line is the mean price, the upper channel line is 2 standard deviations above the mean, and the lower channel line is 2 standard deviations below the mean. Unlike trendlines, price can rise above or fall below the regression channel lines and not invalidate them.
If Micron's price can find support and reverse at the mean, perhaps the long-term upward trend will continue.
Of note, Micron's price is also generally quite correlated with that of Bitcoin, as shown below.
What might Micron's nosediving revenue prediction mean for Bitcoin?
Buy MicronToday micron trade around P/B ~1x, if look back for over 10 years, P/B 1x is the Lowest Price for Micron
Why P/B ?
-
because of Micron is a cyclical business their product(DRAM, NAND) price are sensitive to demand and supply
a lot of CAPEX have to put in business and its show up in PP&E so Book Value of company is real
Business
Micron is in an oligopoly market with other 2 major competitors namely Samsung and SK Hynix
Micron have market share around 25% for a long time and I think its gonna hold like this
Demand for DRAM and NAND is still growing because every electronic device need memory, Phone, laptops, Data center, Autonomous car even AR/VR that Meta building.
So... now is a good opportunity to buy good company in 50% discount.
*A lot of super investors is buying as well*
#MU to 75$?Hello dear Traders,
Here is my idea for #MU
Price closed above yellow line (previous month high)
Price closed (15min Chart) above purple trigger line to enter trade.
Targets marked in the chart (black lines)
Invalidation level marked with red line
Good luck!
❤️Please feel free to ask any question in comments. I will try to answer all! Thank you.
Please, support my work with like, thank you!❤️
technical analysis of MUplan on micron
I cover various stocks which can be profitable based on the stock charts and technical indicators. I try my best to explain as detailed as possible but your feedback is also appreciated
Before you enter a trade , one must learn how to master the charts as Stock charts play a big role in deciding when to buy or when not to buy. Technical Trading help in predicting price movements and have a risk management. Stock trading is like any other business and must be taken seriously. Lot of people lose money because they don't educate themselves and end up placing trades blindly which results in big losses
Stock charts is the major component day traders, swing traders, core traders use. Times and technology has changed and if you cannot adapt to the new methods , there is a high chance you will be left behind
Millions of shares are traded now using desktop , laptop or gadgets and stock charts is what majority of traders look at.
So , if you want to be a daytrader , swingtrader or coretrader learn how to read and interpret charts. There are lot of great books out there like Thomas Bulkowski's Encyclopedia of chart patterns and Steve Nison Japanese Candlesticks interpretation
Having someone experienced can also cut the learning curve time for a new trader. Trading does take time and with discipline , hardwork , dedication and most importantly Passion for this needs to be there.
How Long Can Micron’s Bounce Last?Micron Technology bounced along with the rest of the market over the last week. But now it may be showing signs of continuing lower.
The main pattern on today’s chart is the falling trendline along the highs of August and September. While MU has fought above this resistance, trendline breakouts have generally not worked in the current bearish market. Fundamentals are also a challenge as memory-chip demand weakens.
Next you have a grouping of candlesticks: a spinning top on Tuesday, an outside day on Wednesday and an inside day on Thursday. Those could mark a top for the recent bounce.
Third, stochastics have reached an overbought condition.
Finally, the longer-term chart shows little evidence of a bottom. MU’s next likely support zones on the weekly timeframe could be the August 2020 low around $42.25 or the longer-term base around $34:
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MU: Reacting at a SUPPORT LEVEL!• MU is reacting this week, but the trend is still bearish;
• MU is doing lower highs/lows, and in theory, it is seeking the next support at $46.23 (red line);
• Could MU bounce from here? Yes, and this week is doing a bullish reaction, but it must close above the $51.30 again in order to recover to the $58 - $60 area again;
• By closing above $51.30, MU will trigger a false breakout from a previous support level. Along with the recent increase on the volume, this might be what it takes for MU to recover;
• MU is a promising stock, but for now, it must do better signs in order to become attractive again.
I’ll keep you guys updated on this. Remember to follow me for more analysis like this! Keep in touch.
Falling wedge on the weeklyThere is an emerging "Falling Wedge" pattern on the weekly chart.
Several additional signs suggest that a reversal is coming.
While the price is at lower lows, the MACD indicator shows higher lows.
This phenomenon is called regular divergence, and it is bullish.
Another bullish sign is that the RSI is oversold on the daily chart and almost oversold on the weekly chart.
Lastly, MU outperformed the overall market in the last few trading sessions.
Support: 49.66, 46.52
Resistance: 52.99, 53.98, 58.37
