Currently fairly bullish on MU. Currently at previous consolidation level
My assumptions are based on: -FUD on price fixing and effects of trade-war has already been priced in -Fairly oversold stoch RSI -Consistent demand of flash memory products -Good volume and bullish response at this price level -High volume sell-off absorbed well over past 2 days (sept 12/13)
I'm playing this as a longer term position and currently not interested in using call options due to risk of getting kicked in the ass by theta decay. Expecting consolidation at this price level before (hopefully) moving up
If you are long, why not selling call options in the 34$ area expiring next month. Either you git a nice premium with the current volatility, time is in your advantage, and if it touches the 34$ you can increase your position at an interesting (long) price.
TradePod
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@AikonBE, yea i could but I haven't set up my interactive brokers account yet, just using robinhood lol