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Micron

MU stock: Playing the bounces off Fib levels. Easy as A, B, CWell, I must first admit, I am publishing this chart in retrospect as I've just now taken the time to really analyze MU in this way. Unfortunately, I missed some massive profit opportunities, but this is certainly a learning experience for the next time around and....there may be one more trick (trade) left up this chart's sleeve. So as you can see from the chart, as MU has pulled back from its high around $63, it has bounce nicely/sharply off each Fibonacci retracement point (for a gain of about $3-4 each time). This set up is a day traders dream. In and out of a trade with significant profit in a very short amount of time. First bounce (labeled A) off the 38.2% level was good for almost $4...nice! I'm not really paying much attention to the 23.6 level, though there was a bounce in that region. This bounce also coincided nicely with a trend line that formed a 5 wave pattern....even better (see the pink line). Second bounce (labeled B) was off the 50% level (okay....not technically a Fib number). Again this was good for $2.70! Also, this happened to fall right on a nice trend line to create another 5 wave pattern (I don't have all these waves drawn in because the chart would be very congested, but hopefully you can visualize them on the blue line in the chart above). Third bounce (labeled C) was off the 61.8% level and was again good for over $4. Again, there is a legitimate 5 wave structure that could be formed here on the gold/orange trend line. So the question is: Does Micron continue its fall or does it bounce up from here and start a new bullish move? I honestly have no clue, but I can tell you one thing: if it falls through the gold trend line, I will be watching for a touch to the Fib 78.6 level at a price around $43.19. I may go long a call option here, I may buy shares, or I may sell a put just below this level (or maybe I'll do one or more of the above) for a quick trade expecting a move between $2 and $4. I'd not get greedy though, and I'd look to take profits early. I'd certainly keep a tight stop loss, because if MU gets beyond this level without a bounce, next stop may not be until it hits $37-38. Certainly, the bulls could regain control here at the 61.8% level...this would make a fantastic retracement for a very bullish wave 1 up/2 down as part of a larger 5 wave structure to take MU significantly higher (remember all those analysts predicting MU at $100). A 1.618 extension of a larger Wave 1 with Wave 3 starting off the 61.8% level would give MU a Wave 3 target of $89 (not something to ignore) . I'm staying neutral at this time and will let the chart tell me where MU is likely headed next. Thanks for reading and giving this idea a thumbs up if it helped you in any way! Bonus points for anyone that can draw the trend line that creates a potential 5 wave structure that intersects the 78.6% Fib level.
NASDAQ:MU
by CryptoTA4U
What will Micron (MU) do over the next 72 hoursHere is my best guess at a path for Micron (MU) between now and the close on 3/22. It appears we have completed wave 3 of a large 5 wave impulse pattern. Within this Wave 3, MU has completed 5 sub-waves and now appears to be working on the ABC correction. Wave A is in, B was recently completed, and now we are attempting wave C which will be 5 smaller waves down back to the larger trend line. Of this Wave C down, we appear to have put in Waves 1 and 2. In fact wave 2 made a near perfect 61.8% retracement at this moment. The target for the Fibonacci extension of wave 1 puts wave 3 of this C wave ending at near $56.5 for a 1:1.618 extension. MU would then retrace with wave 4 to previous level of support that would now be resistance around $58.25 before the final push down to $55 for the touch to the trend line on about the close of 3/22. Conveniently, this would yield a C wave that is a perfect 1:1 extension of wave A. Of course, with all this looking so textbook, something is bound to go wrong.
NASDAQ:MU
by CryptoTA4U
1
$MU Bullish Flag ? if breakout off the upper channel, target $58My first Idea, please be nice :) Noticed that $MU is forming a bullish flag (or maybe pennant)... Although it is not a perfect flag, it's still interesting. I will definitely buy if it breaks out of the upper channel with good volume. Convergent indicators: 1. Bounced off the 200 MA 2. MACD crossing 3. Bounced off the strong support at $39.10 Neutral indicators: 1. RSI very neutral Divergent Indicator: 1. %R is high With the same height of the flagpole, target price would be around $59. Added: ER is coming up. $AMD, $AMAT, and $NVDA all beat. What would $MU do? And what would the price do? ;) Chris
NASDAQ:MULong
by ChrisLan
2
Micron's Strong RallyMicron updated guidance for Q2 and now expects revenue in the range of $7.2B to $7.35B from prior guidance of $6.8B to $7.2B and of consensus estimates of $7.02B. In addition, the company expects EPS in the range of $2.70 to $2.75 from prior guidance of $2.51 to $2.65 and consensus estimates of $2.57. The business couldn't be stronger and while recent volatility in the stock market had taken MU under $40 at Monday's close it looks to have made a double bottom. Looking for MU to continue to rally, however the market is in control here and a continued downward trend will derail the recent move.
NASDAQ:MULong
by gthom9
MU - Is it just a meme?If you randomly picked a few readers of r/WallStreetBets, they'd probably tell you all about Micron (MU) & AMD and how they have fantastic potential. Focusing in on MU: is it going to live up to the hype? From a technical analysis point of view, I'm inclined to agree! A very textbook flag/triangle pattern is forming - these patterns are generally trend continuation patterns. The semiconductor industry is booming. MU put together a very impressive sequence of earnings beats. All in all, I believe we should see a breakout very soon!
NASDAQ:MULong
by dvdgege5
1
Micron Holding SupportMicron Technology (ticker: MU) is one of the largest manufacturers memory and storage solutions. The company is currently benefitting from a significant uptick in demand for its products and has seen an explosion in revenue and profits in recent quarters. Due to our technology loving society data usage, and therefore storage, has been growing off the chart. These are some massively bullish trends. Looking at the chart MU seems to be holding at its floor of support. Watch for the stock to rally back to its all time highs in the coming weeks.
NASDAQ:MULong
by gthom9
2
Micron Technology worth buying on the next break upwardsMicron Technology is what can be considered a value stock (P/E under 7 with large positive cashflow), even though skeptics stay away from the stock due to the cyclical nature of semiconductors (debatable in today's market situation due to high demand and industry consolidation). At the same time, the stock is in a strong upward trend on the higher timeframes, while undergoing a tough correction due to selling, among others, by its second largest shareholder Nanya, a company that is selling Micron for other reasons than the company's future outlook. The argument can be made that this is a very attractive opportunity and that the next upward move could be a great entry opportunity for trend traders. This idea does not constitute financial advice. Make your own decision and let us know what you think.
NASDAQ:MULong
by Tradimo_Official
3
Micron Strong Buy for 2018 (Great Buy In Opportunity)MU took a 5% hit today with AAPL as it is a big Apple supplier. Apple has had some issues recently about iPhones slowing. Anyway, Micron recently had solid earning reports. Seeking Alpha considers $48.2 a fair market price. Most analysts have put a target of $60+ on Micron. The stock had a 101% growth in 2017. The semiconductors market is going to be a lot more hotter than it was this year. This one is a keeper for 2018! Today is a good opportunity to buy. For risk management, I recommend opening 60% positions now and waiting to open the remaining 40% tomorrow if market conditions are favorable. Trade safe, good luck!
NASDAQ:MULong
by Jefe
5