$MU to the moon. The semi business has bottomed!
LONG TERM TRADE. ONLY FOR THE PATIENT.
On Thursday, $AVGO (Broadcom) earnings call called for a bottom in the semi business in Q2. With that being said, $MU is looking like a good setup for a long term swing trade. In December, we see micron bounced at $28 and rallying to $43. Now we are currently sitting on the 9 day avg line (1 week time frame). I have chosen the 1 week time frame to show you the close up price action. If we look at the monthly time frame, we see the Ichimoku cloud showing we're still in a bullish trend (above green cloud).
What to watch (1week time frame):
-Watch for price to hold above 9 day avg line or 26 day avg line if falls below (shown above).
-Micron will be reporting earnings on Wednesday after market close. I believe it will pop but staying cautious.
This is an analysis, not an investment advice.
On Thursday, $AVGO (Broadcom) earnings call called for a bottom in the semi business in Q2. With that being said, $MU is looking like a good setup for a long term swing trade. In December, we see micron bounced at $28 and rallying to $43. Now we are currently sitting on the 9 day avg line (1 week time frame). I have chosen the 1 week time frame to show you the close up price action. If we look at the monthly time frame, we see the Ichimoku cloud showing we're still in a bullish trend (above green cloud).
What to watch (1week time frame):
-Watch for price to hold above 9 day avg line or 26 day avg line if falls below (shown above).
-Micron will be reporting earnings on Wednesday after market close. I believe it will pop but staying cautious.
This is an analysis, not an investment advice.
Comment:
Micron is rallying on earnings day. We will probably see a sell off after market.
Comment:
My mistake, wrong day!
Comment:
MU BEAT. Congrats to all $MU holders