Basically, some idiot minnow advertised a million dollar call option purchase... sharks have smelled blood and are circling... this is just pure market manipulation, don't know what to tell ya, abort...
You are correct about the "pure market manipulation".... but that most certainly from the person putting the red arrow to $6.42..... why don't you do the same with Apple, Amazon, Google etc.... talking about incompentence!! ROFL
UnknownUnicorn5518191
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@9b66374f66a44bcf8bf0a8272e7d79, just fyi, you can change your username once, per house rules. Anywhoo, thanks for your feedback. Catastrophic failure is possible for any company, no matter how highly regarded they might be. Apple itself was close to failure at one point, but more striking examples might be Kodak, Sears, or any number of other once shining stars now just trucking by saddled by bureaucracy and redundancy. Getting down to the technical analysis, which I assume you have more than a passing interest in considering your membership to this website. It should be apparent to anyone who's been to TA skool, that TA allows you to map out possible future scenarios based on prior price movements. Bonus points if you can guess which one will actually unfold, but it would be just that a guess, an educated one maybe, but a guess none-the-less. My guess is that MU is going down, based on prior bearish dips, I would wager that the drop will be fast and furious. As to my target, I present exhibit A:
When taken as a whole, since IPO forward, MU is one giant Head and Shoulders pattern, with the red neckline shown, and the left shoulder formed during the 80's, early 90's.
Moving on to more recent events, another giant H&S pattern is being formed, I give you exhibit B:
Many ways you could try to draw a neckline for this particular H&S, but a proper neckline - 3 connecting points, leading to a fourth, can only be drawn as shown.
Using whatever method you prefer to determine major support/resistance lines, you should see that $9.37 is THE major support line, making it, at least to me a very reasonable target, which also conveniently enough gives the timing for the big red arrow down more credence.
So why $6.42 and not $9.37? Well, momentum basically, no way to stop dead at the support unless you slide into it (aka falling wedge, could take the form of a double, triple bottom, etc). dropping onto it like an h-bomb is going to take a bit until it stops.
Why stop at $6.42? Why not at $0? Well, again, just a guess, but I'm taking a page from your thesis to say that a company this size probably won't crumble that way. So, the HS pattern probably won't complete.
But let's say that my guess is wrong, and MU continues to go up. Well then you are faced with 2 possibilities.
For exhibit C, I present MU's major trendline. If you're into math, you might call it it's regression line:
If MU continues to move up and gets to the white regression line, they we're looking at another Apple or Google, etc. But here we have to pull out our fundamental analysis card. MU is not a unicorn it's a chip manufacturer. An industry that notoriously cyclic (HS pattern?). There's a snowballs chance in hell that it makes it to the white line without rewriting the laws of physics. So max volatility oscillating for the foreseeable future
ERAZYER
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how did you hear that? million doller call on a 60 b company shouldnt have a major affect on price
tycrane2
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@ERAZYER, i dont about that, but ive been shorting it anyways