MU trade ideas
MU - Micron - $69.75 Entry / Bottom of Channel / $80 Target0. MU Bottom of Channel;
1. $5 Height of Channel. Descending Triangle.
2. Should move to top of Channel and Breakout to $80;
3. Throw back from bottom of channel was the entry;
- drchelsea
$MU making Head & Shoulders Pattern?Good day!
Been watching MU for a couple of weeks, hasn't been a fun trade lately. After some more detailed TA it appears MU could be completing a Head and Shoulders pattern
Decreasing Volume as what appears to be a Left Shoulder & Head forming help suggest the patterns completion.
Set a few Entry and Exit targets to play the Right Shoulder formation, should it continue to play out. Could Simplify it by going Long and setting tight Stops
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Happy Trading!
MU Calls?This one is tough to chart due to it being very extended. My best guess on this one would be a break above 71.51 to further extend its ATH. It rejects, use 69.90 as a support, breaks below that, we could see 67.04
MUBased on my analysis:
1. MU has been on the 5th wave in the 'impulsive wave'.
2. Stochastic shows MU in overbought.
3. The purchase volume indicates that it has decreased.
4. It is possible for MU to make a correction to reach 76.60 USD or make a price reversal.
Syeikh Hafiz
Stock Market Analyst
MU ShortAfter a golden cross with the 50 and 200 SMA NASDAQ:MU has pushed up into overbought conditions on the RSI leaving quite a mess as it stretches. Now at all time highs, I believe that it is a good time for a short. With lots of buying pressure in the last couple of days some consolidation is expected. Semi-conductors have been a strong play during 2020, however with a strong bid for Energy yesterday, I believe it is time for past due rotation for the continuation of the unprecedented bull market that has been carried heavily by tech centric stocks. The MAC-D is attempting to double extend to the upside for the first time since September and March lows, and with the overbought conditions it is safe to say that this move will likely be quickly rejected. My first target for MU is support at 61.68 and my second target is the gap up from 58.12 to 59.57. Note that the former highs are at 64.66 and this might serve as a testy area for MU.
MU consolidate or make a push higherMicron had nice run to make new all time highs. Its forming a bull flag above the early 2020 highs. Expect this to consolidate at the current level and make a push higher
Bullish Flag on MU?It looks to me like there is a Bullish flag on NASDAQ:MU right now with the possibility of a $10 increase, also the ATR is looking very low which could mean a large shift in stock price soon.
Note: The $10 increase in value was derived from the last bullish flag pole
Last Edit: I'm new to this and I forgot to exclude the charts below the top one, please ignore them
WARNING: I am not a stock expert and am just learning technicals and chart patterns, if you like this idea and would like to replicate it please use fake money to test out this strategy.
at resistanceeither wait for the confirmed breakout or look for a dip entry imo. id do shares>calls here :) gl <3
MU Break Out?Look like a convincing bar printed yesterday I would like price to get above previous relative high or at least sit above the wedge for a few days.
Is Micron Finally Ready to Move?On Tuesday, we cited the pullback in the Philadelphia Semiconductor Index. Today, we’re looking at a member stock that’s been dead in the water all year: Micron Technologies.
Worries about the Covid recession have dragged on the memory-chip maker, despite strong results. Analysts at Deutsche Bank and Citi also think pricing will improve over the winter.
MU’s chart has some potential positives for the bulls. First is the falling trendline between the February and July highs. It broke that line three weeks ago and is now revisiting it as support. (Similar to the iShares Trust China Large-Cap ETF pattern on Monday.)
Second, MU’s 50-day simple moving average (SMA) just rose above its 200-day SMA: a “golden cross.”
There are also potential fundamental tailwinds given the strong industrial data this week from the U.S. and China, plus the upcoming iPhone 12 ramp. Traders may want to keep an eye on MU for a potential breakout.
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$MU 5 Month #HeadandShoulders Continuation #ChartPatternNASDAQ:MU is forming a 5 month head and shoulders continuation chart pattern with $54.50 price level acting as chart pattern neckline resistance. A daily close above that level will trigger a long breakout entry trade. Target for at least partial profits is around $60-$61 which is also the swing high from Feb pre-covid19 sell off.
