Micron has bounced off of the bottom of weekly PRZ. Also, company has started a $10 billion stock repurchase program which should bolster the stock price and increase stock holder equity. Long term target 90.
Directional Bias: Long
Price Target: 37-38
Good Entry: 34.3-35
Risk/Reward: Max Risk of $1 (trade idea invalidated below 34.3 15 min candle close)/ Potential Reward of $3+
Noticing a weekly channel support on MU at the current low of 34.40.
See the link below for the weekly channel
Momentum on weekly is bearish at the moment. The overall downside target on weekly is still 27.07( double top break down formation's target).
However, I expect the trend channel support on daily and weekly to support MU and cause a move to 42.25...
COME ON this is a DEAL! Look were about to touch down and most likely bouce off. with MU having BIG plans with INTC, SSNLF, and 10.5 Billion in A.I. alone Im sure the big boys are shaking off dead weight. I own MU and I am buying twice what i have at 34.XX
Bargain Friday today and it might be the last chance to see this stock under or at $35!
Recently I purchased a fairly small amount of puts (options) against micron. I strike price is around $33 and expiring in January of 2019. This gives enough time for Micron to continue its drop in price, china tensions, tarrifs, chinese stock buy backs , and increased operating costs are all part of the reason why Micron, along with AMD , and Nvidia, will see...
Folks, Fake News has Micron Bankrupt while other companies that depend on Micron products, Microsoft, Apple, Google, Amazon, Facebook, Twitter, Data Storage Services, in fact, the entire Technological Infrastructure depends on Memory and Storage to work so if Micron sales are forecast to sink by FAKE NEWS, the entire technology industry will crash with it...
MU could see a rebound from ~36.50 to ~40/43.75. RSI divergence in 1h chart already occurring, but I'll be waiting for 4h chart divergence and preferably even in the daily.
Current market structure appears to be doing an abc correction. Projected targets are labeled (two green boxes) 70 percent chance we hit the first target which lies between 38 and 36.80. If rest of the market begins it's correction then we can expect to see a further decline in MU prices.
Simply educational purposes
Not Financial Advice
MICRON is a screaming bargain at current levels with or without a sales decline, with or without an over supply, etc..
WE ARE RAISING OUR POSITION TO 1,000,000 MILLION SHARES
We are taking a good guess that we will see Capitulation soon with people panicking and running for the doors for NO GOOD REASON!
When you look at the hype surrounding AMD, trading approx....
![MU: [MU] Phase 4 -> Don't buy](https://s3.tradingview.com/m/mYzZ2hrh_mid.png "[MU] Phase 4 -> Don't buy")
