MU breaks through ATHs Bullrun does not relent LONG
Updated
MU on the monthly chart 4 weeks ago crossed above the previous ATHs of 2021-2022 and has
risen without retesting. Adding $9 to the all time highs for 10% inflation since then would adjust
them to $104 and price is now in that range and above. Price is in the uppermost anchored
VWAP bands and thus prone to reversal. However, MU is not as overextended as NVDA. Its
upside is likely there as it competes in the space. Growth will accelerate once the new chip
plant in upstate NY comes online after the construction is completed. NVDA is reportedly
looking at Vietnam. I already have a large sized position in MU. I will add to it now even
if it may be overbought. There is good cause for the overbuying. I want to support the domestic
economy and understand national security interests in chip manufacturing here in the USA
consistent with the recent federal law and stimulus associated with it.
risen without retesting. Adding $9 to the all time highs for 10% inflation since then would adjust
them to $104 and price is now in that range and above. Price is in the uppermost anchored
VWAP bands and thus prone to reversal. However, MU is not as overextended as NVDA. Its
upside is likely there as it competes in the space. Growth will accelerate once the new chip
plant in upstate NY comes online after the construction is completed. NVDA is reportedly
looking at Vietnam. I already have a large sized position in MU. I will add to it now even
if it may be overbought. There is good cause for the overbuying. I want to support the domestic
economy and understand national security interests in chip manufacturing here in the USA
consistent with the recent federal law and stimulus associated with it.
Trade active
Direct from FOX News more on my comments about domestic chip manufacturing for purposes of national security. foxbusiness.com/technology/intel-plans-us-building-spree-thanks-billions-federal-chip-subsidiesNote
Zoom in- trade now risk free and much unrealized profit existing call optionsand shares as well as new call options for 2026. Explosive high tight ull flag printed.
Expecting consolidation with equilibrium between new greedy chasers and longs
taking profit and shorts looking at downside profits. Holding all positions. No adds
all have trailing stop losses to protect risk-on large positions.
Trade active
MU sideways today but with some up and down range in the middle of it.Trade plan after the weekend consolidation for the upcoming week with Friday closed:
Add 10% to the position on Monday after the opening bell. Sell 25% at the morning
high on Thursday. Deploy profits into another IT stock on Thursday afternoon from
cash balance while awaiting settlement. Under consideration, are Unity, Texas Instruments, PANW, and ANET. One criterion will be a stock that is at least 10% below ATH which narrows things down quickly.
Note
Monster Monday price action. Sold a piece at the top = took another piecein the NY lunch hour
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