Micron broke and closed above its very long term resistance at $50.
It looks technically positive on every time frame and is bound on the downside by its 50/100 SMAs around $44 and its 200 SMA at $38.
Buy the breakout here with stop-losses at 47 / 44 / 38 depending on your risk appetite and investment horizon, and target 64 and then 74.
Alternatively, by an ATM option over late March or April to go over the earnings (to be released in 6 days).
It looks technically positive on every time frame and is bound on the downside by its 50/100 SMAs around $44 and its 200 SMA at $38.
Buy the breakout here with stop-losses at 47 / 44 / 38 depending on your risk appetite and investment horizon, and target 64 and then 74.
Alternatively, by an ATM option over late March or April to go over the earnings (to be released in 6 days).
Comment:
Check out what Barron's has to say about this trade... www.barrons.com...-you-1520366268?mod=yahoob...
Comment:
Has been pushing higher on twice volume. So far, this looks like a "reliable breakout". I would keep holding.
Comment:
The cherry on the cake has been Instinet's recommendation and target price change today, sending the stock skyrocketing on more than twice volume. All of this is built on the expectation of improved memory cycle/pricing, which means that fundamentals are confirming technicals. Best-case scenario unfolding. Keep holding into earnings.