MU - Overbought but will keep going on

116 0
MU - It swiftly moved from consolidation zone and reached 1st target quickly. My 2nd Target is $65 by May 25. Based on its momentum it looks like it can hit the target before or immediately after the earnings date (23rd this month).
Fundamentally - at least for short term there is a lot of demand for its products and there is supply shortage for now. It is a good buy for long term also.
But, for a very longer term I would prefer INTC over MU.

Disclaimer: This is just my opinion, not an advice. Trade at your own risk. I/We long MU.
Comment: The price had gone upto $63.4...very close to our target...hope you en-cashed the profit. There are still chances that price can go to $65.
However...overall market is losing momentum...another 2 weeks are crucial...(rate hikes by US fed, Petro Yuan trading, retaliatory measures by EU and China to US tariffs) understand the direction...
I am using strangles to play both directions of the market.
Personally...I have exited from MU as there are better(less volatile) stocks to play...
Comment: It can hit $65 if it defends $54.3...
Trade closed manually: This is the most possible scenario now. (I think markets need data from earnings reports and their future estimations of a few semiconductor stocks to understand Industry supply and demand).

Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out