MU - Micron Technology, Inc.

This is going to steadily rise. $40 for sure within a year. Who knows what magic Sanjay might whip out? Could be at $60 in 2 years!

 

Testing the top of the supply bar of June 30th.So far looks like lack of demand and that a test lower is needed to find demand.

 

It took it 11 days to re-take the 2 down days of June 30th and July 3rd, then on the test of the June 30th high, the volume was unfavorably low compared to the volume on June 30th showing a lack of demand, and the close for the day was below mid-range....appears bearish for the short term. Point and Figure work shows an upside target between 31.50 and 36.00; perhaps the cause for upward effect is used up here. The volume of the last down-wave was the biggest since January 2016. If the volume picks up (large supply comes into the market) on the next down-wave I'd be inclined to lean bearish longer term too

Daily:

 

Should have followed thru to the downside. Printed a lower low today but closed up near the HOD. Hmmm, maybe they are holding it up; absorbing sellers; waiting on some demand-creating event. Not clear but when what you expect doesnt happen, then expect the opposite.

 

Was glued to $32 the last 3 hours

 

Significant pullback the last few weeks. Definitely on my watch list.

 

I have 26.49 [~26.50] identified also. But also 27.74. For the pattern traders 27.74 is also a nice 3-drives-to-a-bottom.

The trend is up on MU, so supply needs to prove itself for any meaningful downside to occur. So far there has been no Sign of Weakness (SOW). Until that happens I think I'll still be looking for the long trade.

 

dram prices are still 30% lower than the 5yr peak. Bearish outlook is not sustainable.

 

Couldn't agree more. Looking to open a position here soon and add to amd if it drops to the 50ma

 

Seems weak to me. Hoping that suport works at that level.

 

I think people will come to their senses today and pick the markets back up. We always rally when we don't expect it.

 

For the record I think this is going to pop in the morning and close with a black candle. MU is good at starting strong then selling off.

 

As long as pricing stays stable to higher and capacity is in check this won't crash for 4th straight time on ER.

 

Almost all tech pulled back after last ER beats. Environment is different now. IMO those who expect pullback will be deeply disappointed

 

This is going to hit $38 by Tuesday and $40 shortly after. This ER will go down different. This will be a huge beat and a bull run!

 

ER is tomorrow AHER is tomorrow AH. Would be interesting.