MU trade ideas
Bro, Micron about to Pop SoonAscending Triangle Pattern NASDAQ:MU
Inverse Head and Shoulder - apply the distance upward from the tip of the head to the neckline to get a target of $47.15 with an accurate target of $46.62
(I know the H&S is months old but the target remains the same.)
Thinking about this for awhile before I consider pulling the trigger on some calls.
Thanks for visiting.
$MU stalemateMU can convince me to go long with a weekly close above $45, somewhere above the 50MA. For now that area is acting as resistance and we're right there. No point in going long with your fingers crossed. I'm the kind of player who sits on the sidelines until a decision is made one way or another.
Weekly close above the 50 = long.
Current price - neutral.
Any price action below last weeks low = bearish.
Any price action below ascending triangle = bearish.
easy
Micron ReadjustingMicron is changing their future battle plan. It is not yet built into their earnings any bets is purely speculative. However that does not detract from the fact that this could be a great play.
200 MA breakout
MU Elliot pattern in a pitch fan?I don't know just spit balling, But I was a betting man... Which from time to time I am; I would bet that MU is going to the bottom extreme of the pitch fan. Also, I'm not giving anyone advice. I'm just drawing lines on a graph. You know; For funsies.
Bounce?MU is sitting on daily 200 EMA and BB middle band.
Will they hold? I could imagine a bounce here
MU - 1H bear flag in playOutlook:
- bear flag on 1H time frame
- Above 43.93, bear flag will be invalidated.
- Price still above both EMA 12 &26, that means the bulls have an upper hand.
- Below 42.99 -> bearish
- Above 43.93 -> bullish
$MU Micron is stuckMicron has had many issues of late, particularly with the commentary from analysts, yet another downgrade today hampered its chance of advancing. We will look for a break of $44.
30 Year Micron Chart... Very InterestingWe are currently sitting on the original kick-off line dating back to 1993. This line may provide the support for an eventual move towards the 2000 ATH of 98+
Ready to turn?Is MU gonna bounce off the daily middle band to create a higher low?
That would be a nice start.
Long on MU MU broke the 20sma and then broke the 50sma after a solid downtrend. Seems to be reversing. Got in on the engulfing candle on Friday.
MU: All American Underdog ComebackMicron is just screaming out to the value investor in me, and I've been waiting for their earnings call. Apparently a lot of others have, too, and I suspect that the news is no where near as dire as predicted with a resurging confidence in their future revenue growth potential from recent acquisitions of 3D development processes that they developed in conjunction with Intel from Intel thereby effectively eliminating the potentially most intimidating 800-lb gorilla competitor in the market for a Go-To Market strategy. With the recent price crash in semiconductors that's only recently gaining steam again with some good earnings in the semiconductors industry as well as soaring prices on AMD with the news that Google will be launching a cloud gaming service with their hardware alleviating the pressure off them from declining prices from cryptocurrency mining crashing out in the past couple of years.
That's enough of the engineer in me talking about the sector he works in, so its time to get to the technicals. MACD is rising and has been starting to break into a potential crossing of the histogram into safe territory, and I'm confident that the news in their earnings will be the nudge investors need to start buying back in. Desk traders are also going to start buying up a fair bit because they're still quite profitable and will continue to be, and they're in a magical P/E ratio of 3.3 that makes me salivate with the thought of possibly riding that train on up to somewhere closer to the industry average of 42.75. RSI is rising above 50, but careful investors may with to wait for additional confirmation or even until after the earnings call before going long depending on their risk profile. ADX is showing a falling negative price trend with the +DI and -DI contending, and the earnings call this week will cement the winner for a while to come. MU closed above the 20 day SMA with a strong upward momentum after bouncing off the bottom Bollinger Band in the last couple of weeks, and I anticipate it rallying on earnings with the long term 50 day SMA accelerating to cross over the 200 day SMA before the pre-Summer market lulls set in this year.
If you're like me, I always enjoy a good story about an American underdog that's beaten down in the media and underestimated pulling ahead of everyone's expectations, and that's a very real possibility here for the long term trend.
MU EarningsSo I made some money flipping GM puts this morning, I decided to go and buy MU puts with the profits. WIth DRAM prices down significantly since last earnings, I expect their guidance to suck.
As you guys already know, earnings are a crap shoot. Keeping to a small amount on this. Safer play would be to go with April puts on some other chip stock or SMH (sector ETF).
$MU to the moon. The semi business has bottomed! LONG TERM TRADE. ONLY FOR THE PATIENT.
On Thursday, $AVGO (Broadcom) earnings call called for a bottom in the semi business in Q2. With that being said, $MU is looking like a good setup for a long term swing trade. In December, we see micron bounced at $28 and rallying to $43. Now we are currently sitting on the 9 day avg line (1 week time frame). I have chosen the 1 week time frame to show you the close up price action. If we look at the monthly time frame, we see the Ichimoku cloud showing we're still in a bullish trend (above green cloud).
What to watch (1week time frame):
-Watch for price to hold above 9 day avg line or 26 day avg line if falls below (shown above).
-Micron will be reporting earnings on Wednesday after market close. I believe it will pop but staying cautious.
This is an analysis, not an investment advice.
