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MICRON TECHNOLOGY INCMICRON TECHNOLOGY INCMICRON TECHNOLOGY INC

MICRON TECHNOLOGY INC

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MU trade ideas

Micron Pulls Back After Breaking OutSemiconductor stocks have been moving lately. Today’s chart focuses on memory-chip producer Micron Technology. The first pattern to consider is the level around $64.30. MU peaked near this price in November, January, March and April. A breakout followed in mid-May followed by a pullback on Monday. Will buyers step in near the previous high, looking for old resistance to become new support? Next, you have the series of higher lows over the last three months. That kind of ascending triangle may reflect increasing demand for the stock. Third, MACD recently turned positive -- a potential sign of improving short-term momentum. Finally, MU jumped on March 29 as analysts said its long-term demand cycle had bottomed. (The surge came despite weak earnings and revenue.) This month’s rallies in MU and the broader chip space may confirm the industry is back on the upswing. If that’s true, it could give investors another reason to target the $64.30 zone. 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. 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 .
Editors' picks
NASDAQ:MU
by TradeStation
8
MU Entry, Volume, Target, StopWhen price clears: 65.42 With daily volume greater than 16.2M Target: 82.50 area Depending on your risk tolerance: 59.73 gets you 3/1 Risk/Reward. Resistance: 75-76 area Nothing to show on the chart, I'm counting on a break of the long running channel on high volume. This trade idea is not trade advice. This swing trade idea is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
NASDAQ:MULong
by tradepatiently
MU Long Signal 5/21/2023 @ $68.17Points of Interest MU Long Signal 5/21/2023 @ $68.17 (or Monday 5/22/23 opening price) Shortfall hinting at breakout direction WRB 1st week of 2023 igniting volatility/trend confirming the rectangle pattern Rectangle pattern appears to be a bottoming/basing formation, along with the market Current WRB is breaking out with 2 daily closes above the resistance line confirming the breakout $65 major level broken Breaking all key MA’s, 20/8 rising MACD crossing above 0, confirming upside momentum RSI at 61, not in oversold territory and confirming underlying trend upward Risk: 2 daily closes below $65 (or 1 weekly close) Target is to unwind in between $80-$81
NASDAQ:MULong
by ryanschobel40541
Micron Technology (MU) DCA - Rectangle Pattern Company: Micron Technology Ticker: MU Exchange: NASDAQ Sector: Technology Introduction: Hello, and thank you for joining me for this technical analysis. Today, we will take a close look at Micron Technology (MU), specifically focusing on a Rectangle pattern that has formed on the daily chart. Rectangle Pattern: The Rectangle pattern is a period of consolidation, often following a significant price move, where the price bounces between horizontal support and resistance levels. This pattern can act as either a continuation or a reversal pattern, depending on the breakout direction. Analysis: Over the past 355 days, MU's price has been oscillating between an upper boundary at $64.37 and a lower boundary at $48.61, forming a clear Rectangle pattern. We can identify six touch points at the upper boundary and two at the lower boundary, indicating that the price is consolidating within this range. Currently, the price appears to be attempting a breakout above the upper boundary, which could present a long entry opportunity if successful. Furthermore, the price is positioned above the 200 EMA, suggesting a bullish market environment. If the breakout is confirmed, the price target would be $80, representing a potential gain of approximately 24%. Conclusion: In conclusion, Micron Technology's daily chart shows a well-defined Rectangle pattern, signaling a period of consolidation. A breakout above the upper boundary could present a lucrative trading opportunity. As always, it's crucial to manage risk effectively and ensure your trading decisions align with your overall investment strategy. Please note that this analysis does not constitute financial advice. Always conduct your own research before making investment decisions. If you found this analysis helpful, please like, share, and follow for more updates. Happy trading! Best regards, Karim Subhieh
NASDAQ:MU
by KarimSubhieh
6
MU - Breakout Falling Trend Channel- MU has broken through the ceiling of a falling trend channel in the medium long term. - MU is moving within a rectangle formation between support at 59.43 and resistance at 64.83. - MU has given a positive signal from the rectangle formation by a break up through the resistance at 63.13. - The stock is testing resistance at 64.00. - Overall assessed as technically neutral for the medium long term. *EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, RTS: Resistance to be Support LT TP: Long Term Target Price *Chart Pattern: DT - Double Top | BEARISH | RED DB - Double Bottom | BULLISH | GREEN HNS - Head & Shoulder | BEARISH | RED REC - Rectangle | BLUE iHNS - inverse head & Shoulder | BULLISH | GREEN Verify it first and believe later. WavePoint ❤️
NASDAQ:MULong
by wavepoint99
$MU: Monster signal in MicronI'm long NASDAQ:MU here, I like the low probability 3rd target range as a possibility here, but that is a long shot. NASDAQ:INTC and NYSE:TSM are also starting to base, and could rally back to the top of the recent range and maybe break out into a new monthly trend over time soon... Generally speaking, T@M signals have a win rate between 55% and 65%, but in cases like this where a stock is hitting the same range repeatedly and then clearing sellers out and breaking out, you can expect signals to reach the 2nd or 3rd target range by the time the forecasted time elapses or sooner in a substantial amount of trade samples. Stop loss area should be a bit below the weekly mode zone @ $59.90, so consider that for sizing criteria. Best of luck! Cheers, Ivan Labrie.
NASDAQ:MULong
by IvanLabrie
MU - try to find entry pointNASDAQ:MU - 12 year chart. 1.Below AVWAP from the low of 2016 is not taken. 2. 10 month consolidation in $$ 49-65 range 3. Price is back in a multi-year rising channel and is trading not too far from its lower boundary 4. Is near the upper boundary of the descending channel with a high in January 22 5. Trades near the AVWAP from the highs of 2022 6. RS on the weekly charts is moving into positive territory. 7. Well all memory manufacturers have announced price increases. In case of consolidation above $68 we can look for an entry point into the stock. I do not exclude a pullback into the 60-62 range after AVWAP breakdown. Stop calculation (mandatory) will need to be done depending on entry point and position size. This is not an investment idea
NASDAQ:MULong
by kovpups