mazer_rackham

MU - Too soon to pounce

NASDAQ:MU   MICRON TECHNOLOGY INC
The Jan 16 cals for 2.00 per share are mirroring the lows for the stock.
It's got plenty of upside, but the trend has yet to break the hourly resistance line (orange). It is not a proper double bottom until it breaks above 18, and is 13% off the lows. I want to get in with less than 6% from the 13.50 mark or after a retest of the breakout of the orange line. And add when it crosses $18.

Main problem fundamentally is earnings are negative and expected to fall next year.
Earnings due in 6 days, we could buy a short call option on that bc             if they are positive it will definitely fuel the fire to the stock turning around. 61c on a call option expiring after earnings is the right trade if you wanted to get in now.


ABOUT MU: MANUFACTURES DRAM, NAND             AND NOR FLASH MEMORY, AND IMAGE SENSORS USED IN COMPUTERS, SERVERS AND CONSUMER ELECTRONICS
7.
RANK WITHIN ELEC-SEMICONDUCTOR MFG             GROUP:
1SWKS SKYWORKS SOLUTIONS INC            
2ADI ANALOG DEVICES            
3MSCC MICROSEMI CORP            
4MTSI M/A-COM TECHNOLOGY SLTN
36MU Micron Technology Inc            
IBD® Stock Checklist
Composite Rating 7
MARKET DIRECTION AND INDUSTRY GROUP FOR MU

General Market
Uptrend under pressure

Industry Group Rank (1 to 197) 160
FUNDAMENTAL PERFORMANCE FOR MU

Current Earnings
EPS             Due Date 10/01/2015
EPS             Rating 16
EPS             % Chg             (Last Qtr) -32%
Last 3 Qtrs Avg EPS             Growth -2%
# Qtrs of EPS             Acceleration 0
EPS             Est % Chg             (Current Qtr) -58%
Estimate Revisions
Last Quarter % Earnings Surprise -3.6%
Annual Earnings
3 Yr EPS             Growth Rate N/A N/A
Consecutive Yrs of Annual EPS             Growth 2
EPS             Est % Chg             for Current Year -15%
Sales, Margin, ROE
SMR Rating B
Sales % Chg             (Last Qtr) -3%
3 Yr Sales Growth Rate 37%
Annual Pre-Tax Margin 21.1%
Annual ROE 37.6%
Debt/Equity Ratio 46%
TECHNICAL PERFORMANCE FOR MU

Price And Volume
Price $15.34
RS             Rating 6
% Off 52 Week High -58%
Price vs. 50-Day Moving Average -11%
50-Day Average Volume 31.5 Mil
Supply And Demand
Market Capitalization $16.6 B
Accumulation/Distribution Rating E
Up/Down Volume 0.8
% Change In Funds Owning Stock -4%
Qtrs Of Increasing Fund Ownership 0
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