P________L
Long

We may have a support here for MU

NASDAQ:MU   MICRON TECHNOLOGY INC
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4
Fib + last resistant point all suggest we might have a support here around $52
Trade active: Sold 20% of my position bought at $52 as we are approaching 20 EMA.

Comments

Hi, thank you for your time and research. I just ran a weekly chart, what a difference in everything, i.e. indicators, etc. I was using a daily chart, I learned the hard way and it did cost me some money. I do see support around the $51 price. If it breaks down under, something is really wrong, insiders know something we don't. I am guessing, as long as the market stays for most part in tack, i.e. Trade B.S. etc, MU should consolidate in this area and start to move up going into September. Right now, I am using every pull back to add to my long position. After looking at other stocks in similar industries, Micron is unappreciated and dirt cheap. Have a wonderful weekend.

FYI...Not sure if you read the article on Intel & Micron but let me say this, Intel is behind the push for the new 3d XPoint Technology. With the marketing power of Intel pushing the new technology, it's just a matter of time before Micron takes off. Take a look at Intel's 1st qtr earnings report. Revenue from XPoint Technology hit almost $20 Billion. Intel is using the name "OPTANE" to market the technology. This is just the beginning.
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What are your thoughts at this level? I am seeing support around $45 and resistance around $54. As everyone knows, Micron will not start the $10 Billion stock repurchase until September. This leaves the next 2 months of uncertainty. I see MACD in a downtrend. I see Stochastics trying to turn up. RSI got blown out with the recent selloff. I see some saying the stock is in an uptrend.? If it broke support to the downside, and the price is sitting under resistance, how can the stock be in an uptrend? I am trying to learn these charts so please, no wise cracks. BTW...I am trying to use the ICHIMOKO SYSTEM to evaluate stocks and in this case, I am using it for Micron. So, for right now, even this boards meters have Micron a SELL. Thank you for your time and input.
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P________L StockKid
MACD trend usually crosses/reverses after the price bottom/trend reverse, I am betting 52 is a short term bottom. At the end of the day, it's the fundamental that attracts me more than any TA BS.
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I am seeing support around $45... Does anyone see this? Although after looking at over 75% of the market, nothing makes any sense. Micron is by far one of the most undervalued and under appreciated tech stocks in the industry. Thank you
+2 Reply
P________L StockKid
@StockKid, BTFD and HODL, lol
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Nop lower low then previous one. I don't think we have bottomed out yet. 46 on the way if it keeps on going.
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A bounce here will be like +ve divergences on daily RSI with "w" .
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