$MU with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $MU after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 100%.
MU trade ideas
MU will test resistanceIn regards to comparing net income to market cap between the big semi-conductor teams, MU looks the best. TSM is awesome but if there's a war with China I don't want to deal with blockades while US semi-stocks sour out the sky after we subsidize when we lose Taiwan.
Test 70 resistance
Probably purchase 50-55 c calls deep in the money and sell 70-80 c calls and collect off the volatility
Will the Bears Remember Micron?Micron Technology hit a new 52-week low in early July, followed by a tepid rebound.
The first pattern on today’s chart is the 50-day simple moving average (SMA). MU is only now returning to this line -- despite broader market being above the 50-day SMA for two weeks. That’s a sign of relative weakness. Could it also make trend followers expect a continuation of this year’s slide?
Second, price action in the last three weeks resembles a bearish flag.
Third, MU tried to make a higher high on Monday versus July 21. But it failed and a shooting-star candlestick was the result. That may suggest the flag is nearing completion and could soon give way to bearish continuation.
Finally, the memory-chip maker had a double-bottom at $66 in May. The recent bounce never even reached that level, which could indicate sellers remain in control of this chart.
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mu 2 scenariosmu 2 scenarios .. 1] buy after the break above the resistance 1 and 200ma .. 2]sell after the break under the support 1 and 50 ma ..
MU AnalysisPrice is on a downtrend and recently broke market structure to the upside after mitigating the bullish POI at 54.85. Price is creating a short-term uptrend and possibly going higher to mitigate the bearish POI at 66.01 before we see a continuation downwards.
MU flat top flag INVERSE CHART
61.01 flag break to trigger 60.14 double bottom, can see big move
61.01 break as entry
MU daily wolfe wave SMHThere is a daily wolfe wave setup that triggered on July 1 closing day at 53.65. The projected target is calculated by extending a linear line between pivot 1 and 4 and projecting the line. This is represented as the green perforated line, as shown in the chart. The projected target is 84.69 which is expected to reach this price target before Sept 22. Projected targets are defined by identifying the apex of the wolfe wave and projecting a vertical line toward the green perforated projection tgt which is extending from left to right. Using the customizable gap finder indicator there are sets of gaps along the way toward 84.69.
Its time to buy!Price is in the qualified demand zone and now is time to buy.
set the buy stop order and do risk free and then trailing stop.
MU close to starting a positionMU has violated a triple bottom on Friday which is why I have not initiated a position YET. Bottom bollinger band and stochastics oversold on daily. I'd expect a bear market rally to $65 or higher soon, perhaps a relief FED rally?
What a secular bullish trend looks like: Micron (MU)A secular bull market is a long-lasting shift in an industry that leads to substantial growth over a long period of time (crypto/electric vehicles/semi-conductors/e-commerce, etc)
Micron is a good example of a stock in an industry that's in a secular bull market and has some great classical charting patterns on a short term (daily) and long term basis (monthly+).
Darvas Box Theory:
The Darvas Box Theory is a momentum strategy that highlights periods of consolidation followed by trending bursts, which establish a new price level and lead to periods of consolidation.
Fractals:
Fractal patterns are self-repeating and have similar structure when viewed at different time intervals.
Micron is at an interesting spot here as it tests its former April 2021 highs and January 2000 highs, just under the $100 level - also known as the "Century Mark Rule" by Jesse Livermore
From Reminiscence of a Stock Operator, Jesse Livermore is long a copper stock of the early 1900s as it passes up through the $300 price level. This triggers his rule, which goes as follows: "It was an old trading theory of mine that when a stock crossed $100, $200 or $300 for the first time the price does not stop there but goes a good deal higher, so that if you buy it as soon as it crosses the line it is almost certain to show you a profit."
No matter how good a long term trend looks there's no certainty it won't fail, but getting the probabilities on your side is the name of the game. MU hits those checkmarks well.
38 year view:
MU: Looking for Multiple Gap FillsMU looks to be oversold and with tomorrows FED meeting I am expecting a relief rally for minutte wave 2 up of larger wave 3 down. I'd also like to comment that with the way SPY has behaved, it appears that once again the market has "priced in" the upcoming meeting and SPY is also showing levels of being oversold which I will also post an analysis on. My stop support zones for MU are $57.50 and $50. I bought calls today expecting a move up in the next few weeks and expecting to get filled around first gap fill around $63.
Also, I took the liberty of removing most of the fib retracement levels for easier viewing. I hope this helps.
Not financial advice
Micron Tech - IN TROUBLE!!Micron Technology
Short Term - We look to Sell at 65.98 (stop at 69.58)
We look to sell rallies. Selling continued from the 61.8% pullback level of 85.74. Posted a Double Top formation. The formation has a measured move target of 46.09. Selling spikes offers good risk/reward.
Our profit targets will be 46.09 and 41.09
Resistance: 66.00 / 75.00 / 96.45
Support: 54.00 / 46.00 / 30.00
Disclaimer – Saxo Bank Group. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis, like any and all indicators, strategies, columns, articles and other features accessible on/though this site (including those from Signal Centre) are for informational purposes only and should not be construed as investment advice by you. Such technical analysis are believed to be obtained from sources believed to be reliable, but not warrant their respective completeness or accuracy, or warrant any results from the use of the information. Your use of the technical analysis, as would also your use of any and all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.
MU dropping to $39.96 If you can take a look at this chart you can understand the key fundamental levels also Nancy Pelosi play puts @ 50
MU and Dbl. Top+WTZ1Micron Technology may be a big shot for some traders on this Friday. I have waited for complete Dbl. Top pattern for many days and it's triggered when most US stocks plunge today. Normally, Fibo E. 200% is theoretical TP. but I apply 161.8% instead with reasonable RRR. Good Luck.
Micron Technology: Scraping the Barrel Micron Technology
Short Term - We look to Buy at 66.22 (stop at 65.18)
We look to buy dips. Previous support located at 66.00. Although the anticipated move higher is corrective, it does offer ample risk/reward today. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
Our profit targets will be 73.13 and 74.49
Resistance: 74.00 / 86.00 / 96.00
Support: 66.00 / 61.00 / 42.00
Disclaimer – Saxo Bank Group. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis, like any and all indicators, strategies, columns, articles and other features accessible on/though this site (including those from Signal Centre) are for informational purposes only and should not be construed as investment advice by you. Such technical analysis are believed to be obtained from sources believed to be reliable, but not warrant their respective completeness or accuracy, or warrant any results from the use of the information. Your use of the technical analysis, as would also your use of any and all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.
MUWith the current macro environment, MU looks like its going to break recent support and head back to the mid $50s.
MU: Gap FillMU is sitting at support and has been range bound. I am anticipating that MU will stay in this range and head upwards to fill the gap at around $75. However, I do not foresee it going beyond that in the near term.
Not financial advice
MU Trading range 2 months Lots of bad news priced in. Based on earnings forecast, not too much of an upside too. So range bound for a while in these well respected support and resistance lines
MU at support but showing signs of falling throughMU has a strong support / resistance line at the $65 mark. On the weekly chart we can see an RSI divergence. The daily chart shows it has a strong possibility of rebounding off support once again.
Traders should watch the ticker at the current price levels and channels. If it pops out of the current channel on the daily chart, traders should take an aggressive long position as a swing trade. If it falls through the support level of $65 then traders should take a short position, and could honestly trade at multiple time and price targets as it will likely fall first fast (as it has cracked support) but then continue to fall for a while longer.
Micron testing supportMicron (MU) continues to test long term support. There's nothing actionable at the moment, but there could be in the near future.
Perhaps we break the countertrend structure to buy this stock OR we break the support structure currently supporting the price offering us the opportunity to short.
We'll be keeping an eye on this stock to see when or if we're offered the opportunity to setup a trade idea on it.
Potential Trendline Breakout in Micron TechnologyMicron Technology has held up better than most big technology stocks. Now it could be showing some interesting patterns to the bulls.
First, consider how the memory-chip maker’s low in 2022 is $65.86, or $0.19 above the level where it bottomed in October. In contrast the broader Philadelphia Semiconductor Index recently hit levels from March 2021. MU’s ability to hold its fourth-quarter highs is a potential sign of relative strength.
Next you have the falling trendline that began in March 2022. Prices bucked this resistance in mid-May and now seem to have moved through it.
Third, the bounce has planted the stock above its 50-day simple moving average (SMA). The 8-day exponential moving average (EMA) is also above the 21-day EMA, which may indicate its short-term trend has turned bullish.
Finally, MU has a strong earnings history. It tried to rally after the last two reports but was swept lower along with the broader market. That may give buyers a reason to return to the company.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. You Can Trade, Inc. is also a wholly owned subsidiary of TradeStation Group, Inc., operating under its own brand and trademarks. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
