$MU - Ascending triangle breakout- Potential target $58If $MU's price stays above $50 then there is a good potential for it to reach back to high 50 area. Potential target is $58. Stop loss can be set at 50SMA.
MU trade ideas
MU CALL this is my view for MU stock next week. An instant call position will be executed this monday.
Blast Off! Chart looks fantastic.
PMO, MACD, RSI & STOCHASTIC look bullish.
Blowout Earnings coming within weeks.
Looking for Micron to trade up to its old time highs of around $61.00
Long!
Micron (MU) jumps 6% in 6 minMy jaw is still on the floor. This stock looked like it was sunk after a rough week or so. Next thing I know it blows straight though my limit orders! Ah, the stock market is a wild and crazy guy (outdated SNL reference).
Micron Technology: Tight Flag as 50-day SMA Turns HigherMicron Technology has staggered since the market crashed in February and March. The chip stock is very sensitive to the economy because of its reliance on the cyclical memory-chip market.
If the global shutdowns continue, MU faces the risk of falling orders and prices. But if things recover, it controls a valuable corner of a strategically key industry.
This feast-or-famine scenario has played out on the chart as MU hugs $45. That level was important in mid-2019 and again last December. The 50-day simple moving average (SMA) also turned positive last week.
MU has a formed a mini-downtrend / bullish flag in the last month that now has breakout potential. With optimism about the economy spreading, buyers may get more active if $45 holds and resistance around $47 breaks.
Potential day trade tomorrow On the 5 min, MU appears to have broken support and is now oversold. Potential bounce.
Tradig Chanel MUHuge resistance at the 60 line, huge support at the 32.5 line ,has bounced hard the last sell off December 2018 march 2020, Im just traiding the Chanel $41.50 - $50 . so far good profitable strategy. looking for volume on leg down under 41 or break above 50. Until no news on dram spot pricing I´ll continue to trade it, until I see more clarity on the DRAM NAND prices.
Micron stuck in purgatoryThe stock has entered a consolidation pattern, poised for a breakout to either direction soon.
The trends seem to indicate a possible move to the downside, looking at the MACD and 60-day and 180-day EMAs.
MU has exhausted the rocket fuel it gained from a good earnings report last month, as future estimates have flatlined.
Micron Strong SellMicron is struggling below the 200 day and 50 moving average and could potentially break through the March lows. In march, the stock broke through support trendline and a retest is likely to occur. I am buying January puts in Micron (MU) and am looking for it to retest the lows. After it retest march lows, I will convert my PUT option into a PUT VERTICAL to collect the premium (as to lock some profit).Currently, I bought the January 40 strike Put.
With semiconductor ETF being near the highs and this stock being the middle of the range, I am selling one of the weaker semiconductors stocks. If the stock market rolls over in the next 3 weeks, this trade will do very well as semiconductors are volatile and trade more with greed & fear vs safety/defensive stocks.
MU Downtrend, Showing Weakness at ResistanceNot much to this other than rejection at resistance and bouncing off downtrend line. Expecting a gap down tomorrow so that will probably take off some of the potential profit, but still plenty of room.
Expecting a complex correction for wave b) or X) then fall for YMarket Commentary:
First have an look for the positional trend i shared here previous....if you are a follower of me...and sometimes i will share the counter trend trade also in 15 mins and 1hr...but that is risky ones...so if the trend is bearish or bullish, if i am expecting the correction...book the profit there and wait the correction to end and again go with the trend....DONT TRADE THE COUNTER TRADE SETUP...you will took loss too...try to identify the sort term pull back and the long term pull back after that took small lots in the short term PB with strict stop and go with big lots in the trend side that is long term.
Read the market commentary inside the chart what i shared here carefully and try to learn Elliott waves...otherwise its tough to understand the market commentary and my analysis. I wont give a entry, stop loss and take profit in my chart...it is only for EDUCATIONAL PURPOSE and i am sharing how i am analysing the pair and labelling them according to the Elliott wave theory...I AM JUST SHOWING THE TREND HOW IT MAY GO AND MY VIEW(it may wrong too)..so DON'T FOLLOW BLINDLY MY CHART..take this as a reference and if it correlate to you strategy took the trade as per your strategy...DON'T ASK ABOUT YOUR RUNNING TRADES i wont comment on them and I WONT SUGGEST TO TAKE MY TRADE SETUP.
MU beware of a possible Double TopOn long term, beware of a possible double top which the price offered, aprox 60 usd! If the double top is complete )falling under 30 usd), which is a reversal trend sign, look where the price might fall, near MA200 and fibo level.
MU WEEKLY TRENDLINE BREAKOUTWeekly in uptrend and price has broken trend line on weekly for a bullish pennant pattern
