pigla_al

MU BULLISH ANALYSIS

NASDAQ:MU   MICRON TECHNOLOGY INC
Pattern on the weekly view:
The weekly candle show a close near the EMA20.
Last occurrences of a close near the EMA20 (W):
Date From ($) To ($) P/L Sessions
April 30, 2018 48.26 64.66 +34% Next 4 weeks
Feb. 05, 2018 41.01 63.42 +54% Next 5 weeks
Aug. 07, 2017 28.82 35.00 +21% Next 5 weeks

Therefore, MU might hit $60 by August 03/10, 2018. One can consider MU bullish if it breaks the resistance at 53.8 this week. However if it completes the forward 3:1 pattern today, one will wait it to cross high target of 54.79 to go for calls or to cross the low target to go for puts.

Target price math’s:
The lowest P/L is 21% in 5 weeks. That is 4.2% per week. Applying that percentage to the close of July 06 for the next 3 weeks we have a target price of ~60$. We added one more week just for security.

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