MU - Micron Technology, Inc.

Discussion in 'Stock Message Boards NYSE, NASDAQ, AMEX' started by Stockaholic, Apr 4, 2016.

  1. fidelgeorge

    fidelgeorge Well-Known Member

    Joined:
    Apr 15, 2016
    Messages:
    971
    Likes Received:
    393
    Shares of Micron Technology ($MU) moved lower in pre-market trading after Goldman Sachs downgraded its rating on the chipmaker to Neutral from Buy.
     
    Charles Noble and Jack Levy like this.
  2. Onepoint272

    Onepoint272 2019 Stockaholics Contest Winner

    Joined:
    Apr 26, 2016
    Messages:
    1,692
    Likes Received:
    2,204
    After building some more cause, Micron broke higher out of the range today. The $0.50x1 P&F shows a short term target of $31.50 and the $0.50x3 P&F shows a longer target to $36. The other possibility is that this is merely an upthrust and it will return into the range but probably not; it looks like a continuation of the healthy uptrend from here. Wishing I would have been watching it more closely. Might chase it; we'll see in the morning.

    upload_2017-5-30_21-2-50.png
     
    #42 Onepoint272, May 30, 2017
    Last edited: May 30, 2017
    Stockaholic likes this.
  3. fidelgeorge

    fidelgeorge Well-Known Member

    Joined:
    Apr 15, 2016
    Messages:
    971
    Likes Received:
    393
    I think you can trade this on trend line basis everyday for the next two weeks leading up to ER
     
    Jack Levy and Charles Noble like this.
  4. Jack Levy

    Jack Levy Well-Known Member

    Joined:
    Jun 6, 2017
    Messages:
    215
    Likes Received:
    316
    The competition has far to go to catch up and given the high chips prices this one should keep going up for the next 6-8 months! Very safe to be in this one for at least two more ER's!
     
    Charles Noble and fidelgeorge like this.
  5. Charles Noble

    Charles Noble Well-Known Member

    Joined:
    Jun 6, 2017
    Messages:
    204
    Likes Received:
    278
    $1.60 EPS for 3Q and guidance of $1.90-2.00 for 4Q would put us somewhere between $35-$37/share post earnings.
     
    Jack Levy likes this.
  6. Charles Noble

    Charles Noble Well-Known Member

    Joined:
    Jun 6, 2017
    Messages:
    204
    Likes Received:
    278
    If this dips, I'll happily buy more. If it goes up, I'll gladly maintain my position.
     
    Jack Levy likes this.
  7. Wolfy

    Wolfy Active Member

    Joined:
    Apr 6, 2016
    Messages:
    127
    Likes Received:
    49
    Opened some options on the 35 weekly call.

    The plan is to sell covered call before the ER.
    Expecting the stock to move closer to 34 before the ER announcement.
     
  8. Gambit

    Gambit Active Member

    Joined:
    Oct 16, 2016
    Messages:
    702
    Likes Received:
    63
    Micron Technology, Inc. (MU): Barclays Expects May Ahead on Continued Pricing Improvements
    Barclays looks for August revenue ahead of the Street at $5.6B and closer to its $5.77B (3% Q/Q) as positive memory trends persist through the 2H
     
  9. Ryan526

    Ryan526 Member

    Joined:
    Apr 20, 2017
    Messages:
    22
    Likes Received:
    5
    Pretty decent EPS beat and great guidance for Q4 yet this thing is trading flat around the close price...
     
  10. T0rm3nted

    T0rm3nted Moderator
    Staff Member

    Joined:
    Apr 2, 2016
    Messages:
    8,448
    Likes Received:
    3,268
    @Ken34 said this in the weekly thread on the main board. Maybe it has to do with your observation. Just figured I'd share it in this thread.

     
  11. AverageJoesTrades

    AverageJoesTrades Well-Known Member

    Joined:
    May 24, 2016
    Messages:
    1,130
    Likes Received:
    624
    just picked up 5 July 14th $29 Calls for 1.79 - buy all the dips!
     
  12. Gambit

    Gambit Active Member

    Joined:
    Oct 16, 2016
    Messages:
    702
    Likes Received:
    63
    The semiconductor maker's strong demand will likely persist in quarters ahead, assisted by increasing ASPs.
     
  13. Ryan526

    Ryan526 Member

    Joined:
    Apr 20, 2017
    Messages:
    22
    Likes Received:
    5
    This movement makes so much sense...
     
  14. T0rm3nted

    T0rm3nted Moderator
    Staff Member

    Joined:
    Apr 2, 2016
    Messages:
    8,448
    Likes Received:
    3,268
    Broke below my longish term support line and 50MA today. Hopefully for those MU bulls on this forum it rebounds on Wednesday.

    upload_2017-7-3_17-51-40.png
     
  15. fidelgeorge

    fidelgeorge Well-Known Member

    Joined:
    Apr 15, 2016
    Messages:
    971
    Likes Received:
    393
    This keeps going down I'm going to take out a loan to buy more lol. Deal of the year right here.
     
    Charles Noble and Jack Levy like this.
  16. T0rm3nted

    T0rm3nted Moderator
    Staff Member

    Joined:
    Apr 2, 2016
    Messages:
    8,448
    Likes Received:
    3,268
    And it did!

    upload_2017-7-5_20-35-44.png
     
  17. Wolfy

    Wolfy Active Member

    Joined:
    Apr 6, 2016
    Messages:
    127
    Likes Received:
    49
    As much as I like MU, i am not too sure about if it can hold this trend. The semi sector still show great weakness.

    Selling covered calls or selling call spread is probably a safer play for the time being.
     
  18. StockJock-e

    StockJock-e Brew Master
    Staff Member

    Joined:
    Apr 3, 2016
    Messages:
    9,524
    Likes Received:
    3,526
    I like that covered call idea!
     
  19. Jack Levy

    Jack Levy Well-Known Member

    Joined:
    Jun 6, 2017
    Messages:
    215
    Likes Received:
    316
    Not buying the conspiracy theories. Fake news might be hurting SP, but yesterday showed that people are realizing the truth. $35 coming up.
     
    Charles Noble and fidelgeorge like this.
  20. Charles Noble

    Charles Noble Well-Known Member

    Joined:
    Jun 6, 2017
    Messages:
    204
    Likes Received:
    278
    I invested post ER with price target 35 and I feel that's easily achievable, I am ok with waiting but I think I need not to ...
     
    fidelgeorge and Jack Levy like this.

Share This Page