MU Prediction UpdatedWell this is what I see on MU. Looks to me that it will complete its right arm of a head and shoulders top and head down for a bit. Only time will tell.
Thanks.
Micron
Why i like $MU here$MU held the 100MA and seems to be holding long term support. Any where between green line and 100ma offers a opportunity to go long. Market has been choppy, so make sure to manage risk carefully. Good Luck. I recently went long.
$MU Ready to Bounce!We're at a good support level and the 1h RSI is oversold. Expected bounce tomorrow and we'll probably reach $50 this week (previous resistance). Nice swing trade opportunity. Happy trading :)
Trades are not always perfect..But it is good to see some support on #Micron around the $50 price level. If market conditions continue to improve, then I think this one has more upside potential.
MU short @ $50.Shorted MU last week at $50. The target for the short is $46.89. Depending on price movement, alternative target is $43.77.
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 $89 (not something to ignore) . I'm staying neutral at this time and will let the chart tell me where MU is likely headed next.
Thanks for reading and giving this idea a thumbs up if it helped you in any way!
Bonus points for anyone that can draw the trend line that creates a potential 5 wave structure that intersects the 78.6% Fib level.
MICRON LEVELS ($MU STOCK CHART)Pretty straightforward bracket here.
Picking a high around $74 and a low in the high $40's.
If I had to pick one, I would say due to the chart pattern the $74 is most likely, but watch for volatility taking this thing down to $48. Will keep an eye on it, options trade anyone?
Micron Technologies Micron continues to ride the grey uptrend line. RSI is currently overbought, and the past shows us we should expect a pullback. However, the Bollinger bands still show some wiggle room up to $65, with heavy resistance just over $66. I will post updates when necessary.
This is not financial advice.
Questions, criticism, and other ideas always are appreciated.
Cheers!
Micron Technology
Price/Earnings 8.60
Price/Sales 1.82
Price/Book 2.81
Price/Cash Flow 4.53
Quick Ratio 1.75
Current Ratio 2.34
Long Term Debt/Equity 53.13%
Total Debt/Capital 37.46%
Revenue Growth 3 Years 24.23%
EPS Growth 3 Years 73.62%
MU: Potential weekly 135 pattern completed with c.23% downsideCouple of bearish cues on MU:
#1 Potential weekly 3-drive pattern completion
#2 Currently trading at 61.8% retracement of last All Time High
#3 Potential ABCD completion in the 240M time frame
#4 Huge volumes which suggest exhaustion, last hooray
Min target would be the 38.2% retracement level around the $40-$43 level.
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 $55 for the touch to the trend line on about the close of 3/22.
Conveniently, this would yield a C wave that is a perfect 1:1 extension of wave A.
Of course, with all this looking so textbook, something is bound to go wrong.
MU Retesting Ex Resistance / New Support ?I took profit and now looking a new entry price. Seems we will test Ex resistance. Good oportunity to buy at a cheaper price before ER on 22nd.
SL 48
Next target @ ER 57.20
Keep calm and embalm
Micron Breaks OutMicron ($MU) rallies on strong demand for personal and cloud computing. There were concerns that demand for DRAM and flash storage were going to decline over the coming year, however those fears may not materialize. The stock broke out to a fresh all time high on strong volume.
Another possibility that's likely to play outI was thinking about it and it does look like there's an opportunity for a nice long position near $39.50. With an aggressive stop bellow $39. Let's see how it plays out
$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
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.
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!
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.
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.
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!
MU Wildly Bullish after Better than Expected Earnings ReportNice Bullish Kicker. Micron just beat Wall Street's expectations after it announced higher than expected earnings. The stock was up 6% when the market opened. There was some extensive profit taking which was expected before Christmas. The price is starting to recover to the daily high. Today is the best time to get in. Stop loss at 39. Take profit at 58.
