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MICRON TECHNOLOGY INCMICRON TECHNOLOGY INCMICRON TECHNOLOGY INC

MICRON TECHNOLOGY INC

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MU trade ideas

At Major Resistance level and Upper Channel Resistance$MU had a good run, but it is reaching a major Resistance level at 48, It matches the upper channel resistance level, plus other technical levels like overextended overbought level, waning bullish imbalance, profit taking area, this can reduce the likelihood this will try to breach the 48 level. It makes more sense to try to retreat, shake the tree and try a second attempt after testing the support at 43. This creates a bearish leg targeting at 43. If the bearish side takes over, it may actually bring it down to test the secondary support level at 38. In the best case bullish scenario it could be bouncing in choppiness leaking momentum for a couple of weeks with eventual bull pumps and dumps to try to prevent the bearish positions from building up.
NASDAQ:MUShort
by Madrid
1
MU - long-term short setupMicron reached nice levels where to start building short position. In worst case scenario $MU may fall as far as 70% from current levels, which is not absurd, given that the company is very cyclical, and global economy risks entering recession. More prudent approach is to wait when bear flag would be broken below 40$, however, given current overbought level, MACD divergence and current wave C reaching symmetry with A in potential corrective B of larger degree , we are in very good spot to try first entry, and then move stop tighter, if we will see move lower in the upcoming month. Stop: 64.67 Target: ~20$ NASDAQ:MU
NASDAQ:MUShort
by Silvestrov
Micron Short - Rising wedge pullbackMicron (MU) has had a monster run, now it looks time that the longs will take profits. MU is in a rising wedge and has shown a high degree of excess exuberance, i would be looking at either taking your long profits now and wait for a pullback to the 9 ema, or i would look for a short trade with the same target in mind. Personally i would favor the latter as the broader market also looks set for a sell off (i talk about hedging SPY also) and given micron has quite a high relative beta, this should drag MU down also.
NASDAQ:MUShort
by Profit_Link