MU 94 BOUNCE or 92.7-93 BOUNCE Strategy: Post earnings report rally Buy into weakness at the bounce levels News Catalyst: "Micron Technology (MU) shares were up nearly 5% to trade at $94.84 on Thursday, as more than 25 million shares changed hands shortly before 2:30 p.m. EST. Over the past five trading sessions, Micron has risen more than 16%, compared to a...
$MU Micron Technology Fiscal Q1 Results Rise; Issues Fiscal Q2 Guidance -- Stock Gains 6% After-Hours stock just breakthrough the first resistance at 84.30 with the stock gapping up at after hour, people might take some profits at the opening bell tomorrow. maybe wait for a bit to settle down until premium gets a bit cheaper and see the formation of the stock...
... for a 2.22 credit. Comments: Earnings announcement volatility contraction play with rank/implied at 79/59. 2.22 credit on buying power effect of 8.07 (on margin); 27.5% at max as a function of buying power effect; 13.8% at 50% max. Will look to take profit at 50% max; manage sides on approaching worthless/side test.
$MU 1W Nothing new here. I like other semis better, they have better opportunity imo. Still expecting a pullback on this one.
Earnings one Monday after the close! We will see if the semi conductor sector is able to muster enough tail wind to see a breakout of this weekly bull flag...
Bearish option flow into earnings. On Friday, December 17, 2021 there was some notable buying of 4,882 contracts of the 12/23 $77.00 put The fib retrace level for 50% would be the $77 area.
$MU 1D Although holding up fairly well still, my bias is telling me we still may see a wave 2 down before the next impulse. Looking at the $70-77 region for a great dip buy. Staying patient on this name.
*This is not financial advice, so trade at your own risks* *My team digs deep and finds stocks that are expected to perform well based off multiple confluences* *Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management* Recap: My team entered $MU at $72.92 per share. Our first take profit is...
Momentum curling over which is what we want to see. Looking for W2 for a MAJOR buying opp. Stay patient friends.
Fibtime suggest a drop over the next month to month and a half. This is a guess as markets can never truly be timed. Time after all is not a continuum and has ebbs and flows like a river. We just simply do not notice them. Here believing end of an A within a B within a B. Divergences happened, momentum shifting, 5 Wave impulse confirmed. 0-2 line not shown, but we...
MU is within a rising wedge Rising wedges are a bearish indicative pattern I am suggesting a collapse down to a stronger area of support to manage this rising wedge The other scenario is that this rising wedge breaks out to the bullish side, but for the consistency of chart pattern expertise we will stay with the bearish approach, which is considered appropriate.
Take Profits at the major Support Level. Earnings around Dec 17 so looking at long call options to ride the volatility.
No changes from last week. Still waiting for larger degree wave 2 before buying in.
Swing execution plan still remains the same. Micron just decided it wanted $80+ first. Still seeing this initial impulse as a wave 1 and looking for a wave 2 below. Since wave 1 was larger than I expected, I have adjusted my count for waves 2,3,4 and 5 to accommodate this change. (much larger 5 waves up)
Micron Technology, Inc. ( NASDAQ:MU ) Sector: Electronic Technology (Semiconductors) Current Price: $83.03 Breakout price trigger: $83.80 Buy Zone (Top/Bottom Range): $81.00-$78.00 Price Target: $89.00-$90.00 (1st), $95.00-$97.20 (2nd) Estimated Duration to Target: 45-49d (1st), 60-64d (2nd) Contract of Interest: $MU 12/17/21 82.5c, $MU 1/21/22 85c Trade price...
Upside looks limited from here. Expecting us to pullback into a corrective wave 2 into a very buyable dip around $70. Be patient on this one, it's only getting started.
Not much has changed for me here. Still a very significant wedge breakout. However, I need to see a small wave 2 dip for me to buy into this for a swing. Staying patient on this one until risk/reward is in our favor.
Micron is a long based off the technical breakout on the weekly timeframe. Targets lower 80 area and above there possibly 100. Chips have been running like crazy, does it continue?