Micron Technology pre earnings action and post earnings levels.

TomasRay Updated   
BATS:MU   Micron Technology
Please note that this is not financial advice but merely my personal opinion. I encourage you to conduct your own research.

As Micron's earnings report approaches, market sentiment appears bullish, suggesting a potential rally that could push the stock price toward the $150 zone. This anticipation is likely fueled by expectations of strong demand for memory products, improvements in supply chain conditions, and overall positive trends in the semiconductor industry.

Post-earnings, Micron's stock could experience two possible outcomes:

Positive Earnings Outcome: If Micron reports strong earnings, surpassing market expectations, the stock price could surge by 10-15%. Factors contributing to positive results might include higher-than-expected sales, effective cost management, and robust future guidance. This would reinforce investor confidence and drive the stock higher.

Negative Earnings Outcome: Conversely, if Micron's earnings fall short of expectations, the stock could decline by around 15%. Potential causes for disappointing results could include weaker demand, pricing pressures, supply chain disruptions, or unfavorable guidance. This outcome would likely erode investor confidence and lead to a significant drop in the stock price.

In summary, while there is optimism about a pre-earnings rally toward the $150 mark, the actual post-earnings movement will heavily depend on Micron's financial performance and market reaction to the earnings report.

I'm looking to open my position tomorrow in the early trading hours, wish I had done it a week ago.
Trade closed manually:
The expected $150 was reached early but didn't hold for long and fell back to ~$140, post earnings right on negative level @ ~132.50.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.