MU still in playFew rejection at re-bounce area show that MU still having strong movement to resistance area. Opportunity to buy at current or slightly below consider as low risk ratio compare to reward.
MU trade ideas
MU BULLERISH Earnings playMU is in a clear ascending channel, has set up meaningful resistance at the $48 level last week. Looks like it has consolidated at the lower end of the channel and is going to make a move up to the top of the channel. This has set up an opportunity to the long side if MU respects the channel it is in. Monday is earnings for MU after market close, I'm not really sure what it is expected and how they have been doing,a few weeks ago I played the $50 breakout successfully, it ran to 54 where I closed the trade.
This chart presents two trade setups because of the positioning of the stock and the underlying catalyst for a move to either direction.
Bullish: MU price target is $54 upon good earnings as a catalyst to move the stock from the lower end of channel to the higher end of the channel, I'll be playing Jul 31 - Aug 07 options as the longest up move from the lower end of the channel took 24 days to complete.
Side note: MU has earnings on Monday after market close, this means that IV will be extremely high on Monday and might not be worth buying options until after earnings. I have already started a position with Jul 17th options, which I will most likely close at the end of day Monday if MU makes a good move off the lower channel because of IV crush the next day and will re enter if indeed the lower of the channel is respected and the stock moves higher on earnings.
Bearish: If MU breaks that lower end of the channel, it could possibly break down and head lower or bad earnings or even good earnings that did not meet expectation. This entry will be based on whether MU holds that $48 level or not, if not could profit really nicely to the downside with options as well, as put options tend to gain more as vol increases (it mostly increases as the stock goes down)
This is not FINANCIAL ADVICE and SHOULD NOT be taken as a trade just based on what I have put out here. Do your own analysis and use mine as supplementation to support your thesis, mine is strongly to the upside more than to the down side and I have a clear plan as to how I will execute with technical and time stops. OPTIONS ARE NOT FOR EVERYONE, check with your broker or financial adviser first.
MU BUY OR LONG TARGET UP TO $60MU Triangle Ascending pattern and has a pull zone of $ 50.5
MU buy : $51
MU Target : $60 +-2
Stop loss : $47
Wish you a successful trading!
MU Analysis (1Hr Chart)Weekly
- Diving Board Pattern (Starting Dec 16th, 2019)
- Bullish Momentum
Daily
- Bullish Channel
- Slightly Decreasing Volume
1Hr
- Island Top Reversal, which seemed to be short lived
- Bearish Rising Wedge
Prediction
- Break of the Rising Wedge to the Upside w/ Earnings Run Up
- 1st Price Target: 59.59
- 2nd Price Target: 67.31
$MU Micron Following the Channel
Bullish move setting up as RSI is in reversal as is the MACD
Possible upside targets to recent pivots
MU: Ascending triangleAscending triangle
Descending volume
200MA = bullish
PPS = above 50MA
250RSI = above 50, bullish
ATR trending upward
Targer price = 78,47$ if confirmed.
Long MU 58$ target if Channel HoldsMU is getting the attention of some professional traders. Will be on watch to break the $49 VWAP and will be using bull spreads to cover. Credit spreads if it breaks the channel to the downside. Please post below if you agree or disagree.
MU Long, Using "MM_UpTrend_Buy" to find trading opportunityAdd my study "MM_UpTrend_Buy", Add EMA(144)
Today shows "buy" flag.
Entry: 48 (below 48.8)
Stop: 45; when trend line break, and Below EMA144
Target: 60; risk/reward=1:3
This is a trading school homework. I need few months to practice trading plan.
If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate.
Gap Closed, Resistence brokenGap Closed, Resistence at 50.00 has been broken, price above MA 50, MA 100 and MA 200. Good to go long at market, inital target @ 55.5 and a longer term taget @ 60.00
Cancel trade if price closes below MA 200 (48.54 as of today)
This is not trading advice, just my personal analysis.
MU might hit 60 in couple of weeksThis is just my opinion on MU. Research before you invest.
MU just broke out of an Ascending Triangle. Target of 60 in few weeks.
MU previous max as baseLooking at upward trend based on support and downward possible trend based on previous resistance.
MICRON TECHNOLOGY now is in BUY situationHey traders, MICRON TECHNOLOGY is pushing up, breaking of the stabilization zone in sight for testing of a new zone to come.
Please LIKE & FOLLOW, thank you
MU BreakoutIn May, I was bearish on micron as we were trading in a sideways action and I thought that the S&P500 would have some form of meaningful selloff and that high volatile stocks would sell off the most. To my surprise, this stock hasn't really done anything in the past few weeks and today, I noticed that stock broke up resistance wedge.
With this wedge breakout, I bought 100 shares at $51.14 and sold a ITM $50 strike call for a credit of $3.60 = $360.
My max profit is my premium ($360) - intrinsic value of the option (51.14-50.00 = 1.14 x100 shares =$114 intrinsic value). Therefore, my max profit is $360-$114 = $246 or 4.8% in a little over a month.
By using the covered call, I am able to protect my investment at the same time as limiting my profits. I do expect this stock to go up more than 4.8%, but I prefer to also limit my losses or increase my probability of profit and that's why I chose a covered call.
Hit the like button if you want to know how this turns out. On a side note, the stock does have earnings on 6/29/2020 or in 25 days and I will most likely either close my position if its deep in the money or I will cover my position even deeper to lock in any gains in the next 25 days.
Goodluck guys.
Micron Technology, (MU) breaking outMicron technology is breaking out today from a B wave consolidating triangle as it moves towards completing its zig-zag upward correction. This is a large stock and I suspect it will top when the rest of the market tops. Moreover, with a clear technical chart, MU can be a proxy for timing major indexes.
$MUSo over the last quarter.
Only 1 analyst has maintained a "Strong Sell" opinion on this.
Only 2 are "Moderate Buy"
The remiaining 19 are "STRONG BUY".
Whatever that holds in value for you.
Placing more longsGood to see MU falls to support line once more. Adding a little bit amount of shares at this moment and will add more on 44.8 level.
MU Long, Using "MM_SMA_Swing" to find trading opportunity Add "MM_SMA_Swing" with input: Show SMA(50), Dev (1%)
Add EMA(144)
Draw trend lines, Verify the price action:
1. Wedge breakout to up side,
2. Pull back to re-test the trend line
Entry: 47
Stop: 45; when trend line break, also Below EMA144 and SMA50
Target1: 53; risk/reward=1:3
Target2: 58; risk/reward=1:5
This is a trading school homework. I need few months to practice trading plan.
If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate.
