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MU trade ideas

Is MU ready for all time highs? $MU is looking to break out into all time highs from its previous highs back in 2000. MACD still looks strong but volume is my only concern. RSI still has room to grow but starting to reach overbought levels. Put/Call Ratio for the coming week is .32 and .30 for the following week. This indicates money is expecting an increase in price. If it breaks out look for the 1.382 Fib level for a possible target. Keep your eye on $MU as it will definitely be on my watchlist this coming week. Market is closed tomorrow due to MLK day. Leave your thoughts below in the comment section. Best of luck traders!
NASDAQ:MULong
by timmyarens
MU, 14 Jan. Breakout of the Decade?Micron has reached $97 on 17 Jul 2000, right before the dot-com crash. We are now back to exactly $97 (the blue line), for the second time, forming a gigantic cup (and handle) pattern. Look at the weekly chart to see it. With such an epic pattern, the question is if we can position ourselves for a potentially large breakout. Geometry: Price has formed a bullish descending broadening wedge (green lines) and broke above it. Oscillators: RSI shows a bearish divergence, Stochastic is due to retrace. Volume: Vol is declining, suggesting that the uptrend is stalling. Moving Averages: The 20 week MA is approaching 80, the 50 EMA is at 85, potential supports. How to trade it: The fact that price approached the resistance for a second time seems promising for a large breakout. The problem is that we do not see a clear handle on the weekly chart. In the worst case, we will get a multi-year handle-forming chopfest. Oscillators suggest that price needs further consolidation. The idea is to test longs at $94, and around $85, where the 38.2% retracement meets the incoming 20 week MA, and the trend line. Look for Stoch/RSI to be oversold. The expectations of a great earnings result (and the earnings itself) could be the catalyst for the breakout. The idea may not work if price falls below the green support line at $85.
NASDAQ:MULong
by UnknownUnicorn12250317
Micron Technology: Bull Flag Offers Good Risk:Reward Micron Technology - Short Term - We look to Buy at 87.30 (stop at 83.80) The continuation higher in prices through resistance has been impressive with strong momentum and shows no signs of slowing. Prices are extending higher from the bullish flag/pennant formation. Trading volume is increasing. Daily signals are bullish. Further upside is expected although we prefer to set longs at our bespoke support levels at 87.00, resulting in improved risk/reward. Our profit targets will be 96.90 and 102.00 Resistance: 95.00 / 100.00 / 105.00 Support: 87.00 / 85.00 / 80.00 Disclaimer – Saxo Bank Group. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis, like any and all indicators, strategies, columns, articles and other features accessible on/though this site (including those from Signal Centre) are for informational purposes only and should not be construed as investment advice by you. Such technical analysis are believed to be obtained from sources believed to be reliable, but not warrant their respective completeness or accuracy, or warrant any results from the use of the information. Your use of the technical analysis, as would also your use of any and all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features. Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.
NASDAQ:MULong
by Saxo