Through the partnership with Intel, Micron has developed next-generation 3D NAND as well as the upcoming 3D XPoint technology, which will allow the company to weather economic and cyclical downturns.
Not my ideal setup here, but wouldn't blame anyone for taking a shot right here. Previous gap-up level could be support, with more support at the 50MA just below. Tight stop around $52 maybe. Might pull the trigger on this Monday morning.
I started shorting this late Thursday, heh. Like how it's continuing to fall off the upper Bollinger band on Friday. If indeed a cylical business, look at where it is in MU/QQQ It won't break me if I'm wrong.
You could be right, I just tend to have a trading style that revolves around playing bounces off support. If I take your chart above though, I do definitely see some resistance
Gapped up today and missed my limit buy order at $53.70. I'll let it ride again tomorrow and see if it gets down there.
Literally a day late and a dollar short, as the saying goes. If I would have bought the day before, or the price had been $1 cheaper the day I placed my limit buy order, I'd have been in. Up over 6% today.
A major risk is the strong competition from the likes of Samsung, Hynix, and Toshiba, which may be able to develop technologically superior memory solutions than those of Micron, leading to stretches of underperformance where the latter is unable to adequately invest to bridge product portfolio gaps.
Resistance is at $62. Look if it takes that out I got out of my short quickly, Monday after-hours it started gapping up.
Agreed about resistance at 62. MAs go green. Bullish crossover in MACD and Stochastics , but RSI is in the red. If it could break 62.10, it could move up to 72.53.
Still holding this uptrend line, weekly chart Keep an eye on the semiconductor sector to get this market to ATH.
You can almost see where these guys were getting out in a chart https://www.smarteranalyst.com/hedg...ck-boosts-advanced-micro-devices-amd-instead/ "Soros revealed a very bearish take on Micron- exiting the stock completely in the quarter. This boils down into the sale of 395,912 shares, worth $20,761,625." In the weekly chart can see that the volume peaks occurred right at the price peaks. Good job Soros et al. Relatively, MU/QQQ did peak at the same high as 4 years ago Right now can't imagine MU going back to that same relative bottom again. Around $43 is a nice level to look for buyers, and also watching semi-related WDC to finally bottom.
What is the General consensus regarding MU? Are we expecting a rebound? 1-yr Targest Est is still at $83
This -6% sell off here might be attracting the dip buyers. It bust through the support levels, running the stops most likely.
