Tradimo_Official
Long

Micron Technology worth buying on the next break upwards

NASDAQ:MU   MICRON TECHNOLOGY INC
Micron Technology is what can be considered a value stock (P/E under 7 with large positive cashflow ), even though skeptics stay away from the stock due to the cyclical nature of semiconductors (debatable in today's market situation due to high demand and industry consolidation). At the same time, the stock is in a strong upward trend on the higher timeframes, while undergoing a tough correction due to selling, among others, by its second largest shareholder Nanya, a company that is selling Micron for other reasons than the company's future outlook. The argument can be made that this is a very attractive opportunity and that the next upward move could be a great entry opportunity for trend traders.

This idea does not constitute financial advice. Make your own decision and let us know what you think.
would help if we knew why Nanya was selling, even my confidence in MU was shaken after that, but im still in the long
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@gariklol, with the latest sale they stated that it was to pay off some of their own debt and that they needed cash for their own operations
+2 Reply
gariklol Tradimo_Official
@Tradimo_Official, ah i see, much obliged
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