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MU - Micron Technology, Inc.

Discussion in 'Stock Message Boards NYSE, NASDAQ, AMEX' started by bigbear0083, Apr 4, 2016.

  1. bigbear0083

    bigbear0083 Content Manager
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    [​IMG]

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    Micron Technology, Inc. (MU) is an American multinational corporation based in Boise, Idaho which produces many forms of semiconductor devices, including dynamic random-access memory, flash memory, and solid-state drives. Its consumer products are marketed under the brands Crucial Technology and Lexar. Micron and Inteltogether created IM Flash Technologies, which produces NAND flash memory. Micron was named one of Thomson Reuters top 100 global innovators in 2012 and 2013. Micron Technology is also ranked among the Top 5 Semiconductor producing companies in the world.
     
  2. bigbull

    bigbull Active Member

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    So far the stock has respected its short term uptrend.
    Needs to hold $12.50 - $13.00 support to warrant a move up to $16 - $16.50, otherwise its back to contesting the 52-week low.
     
  3. Rock Sexton

    Rock Sexton Meat Popsicle

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    Liking the setup right now in Micron.

    • Weekly chart shows that after double bottoming w/positive divergence - the stock has now jumped back into the range from 2015. Stocks that move back into old ranges tend to seek out prior value or "revert to the mean"
    • The most active price by volume (POC or "Point of Control") for 2015 was $18.64
    • The daily chart in 2016 shows a POC at roughly $10.70 and a "b" shaped profile, which is usually in favor of sellers. In order for longs to break the stock out from the POC, it requires consistent above average volume - which it got from May into beginning of June
    • The old resistance on that daily chart for 2016 was successfully tested twice for support in June and July
    • The 3 month daily chart shows a "P" shaped volume profile with the POC near the top. This formation favors the longs as it's a signal that shorts quickly covered their positions in anticipation of a move up.
    • The 3 month POC was re-tested successfully for support - notice demand is still greater than supply in that area
    MUweekly.JPG View attachment 2856 MU2016.JPG MU3month.JPG
     
    #3 Rock Sexton, Aug 12, 2016
    Last edited: Aug 13, 2016
    Onepoint272 and leonx81 like this.
  4. AverageJoesTrades

    AverageJoesTrades Active Member

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    Late to the party, but I just bought some Oct 18 Calls for .45
     
    Rock Sexton likes this.
  5. Tiptopptrader

    Tiptopptrader Well-Known Member

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    Intel, AMD, Micron: Buy on Bullish PC Signs, Says Wells
    Wells Fargo’s chip analyst David Wong today reiterates an Outperform rating on shares of Intel (INTC) and several other PC-related chip names, citing data for the month of August from Taiwan-based assemblers of notebook computers that showed a “solid” recovery.

    “We think a recovery in global chip sales may have begun,” writes Wong.

    He’s “positive on the semiconductor sector overall,” he writes, and “We think that several chip stocks with exposure to the computer (PC and server) segments still have very reasonable valuations, and so, in our view, could well be significant outperformers in an environment of improving computer demand,” including Intel, AMD (AMD) and Micron (MU).

    Wong cites the upbeat data point for August:

    Last week Taiwanese month of August sales data provided further evidence of a solid seasonal rise in PC builds and AMD launched a new family of processors for desktops. We think that a string of new processors and graphics products from Intel, AMD and Nvidia will likely help stimulate demand for PC and server systems over the next several months: Some recent data points that indicate improving PC demand include:  Monthly sales reported by Taiwanese computer-related companies showed a solid month/month rise in August and a slight improvement in year/year comparisons, with the year/year comparisons now running at flat to up after a period of declines. o Sales for our notebook ODM aggregate (Compal, Quanta, Wistron, and Inventec) increased 11% month over month in August, after decreasing 9% in July and increasing 12% in June. o Aggregate revenues for the motherboard/computer-related companies we track (Asustek, Elitegroup, ASROCK, and Gigabyte), excluding Pegatron (which also makes iPhone) increased 19% in August, after decreasing 17% in July, and increasing 32% in June. Hewlett Packard reported its notebook unit shipments were up 12% yr/yr in its July quarter, though desktop unit shipments fell 6%. HP said the PC market improved slightly more than it had forecasted. The midpoint of Intel’s September quarter guidance range, given in July, implies an expectation of 10% sequential growth in overall revenues. Intel noted that its forecast reflects growing momentum (in both the server and PC businesses, we assume) as it enters the second half of 2016.

    Although Wong’s 11% rise for notebook makers is less than a 20% rise cited last week by BMO Capital’s Ambrish Srivastava and Tim Long, Wong is more upbeat than those analysts in his view on the PC market.

    Aside from the positive ratings, Wong is still negative on Nvidia (NVDA):

    Although we think that Nvidia’s has rolled out new discrete graphics and coprocessor products with its Pascal family, we think that increased competition from AMD in graphics and Intel in coprocessors with the new products from these companies poses a risk to Nvidia’s stock. Last month (August 2016) we downgraded Nvidia’s stock to Underperform.
    http://blogs.barrons.com/techtrader...md-micron-buy-on-bullish-pc-signs-says-wells/
     
  6. leonx81

    leonx81 Well-Known Member

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  7. StockJock-e

    StockJock-e Brew Master
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  8. T0rm3nted

    T0rm3nted Moderator
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    Down almost 6% after hours today after missing earnings. Was already sitting right at resistance, and I don't see any real CLEAR support, maybe $15.50ish?

    upload_2016-10-4_21-26-54.png
     
  9. Tiptopptrader

    Tiptopptrader Well-Known Member

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    If it hits 15.50 there is a small gap at 15 or so that could be the next step down. I have liked this stock but never tested the water.
     
  10. T0rm3nted

    T0rm3nted Moderator
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    Recent Insider Trading:

    upload_2016-10-29_13-45-57.png
    upload_2016-10-29_13-45-45.png
     
  11. Rock Sexton

    Rock Sexton Meat Popsicle

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    Target of $18.64 as detailed in the quoted post from August was acquired.

    Love these POC reversion trades.

    MUupdate.JPG
     
    Onepoint272 likes this.
  12. Onepoint272

    Onepoint272 Active Member

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    Rock, your work dovetails with a one-box-reversal figure-chart target. The chart below uses a 50-cent box and a 1-box reversal and showed the met price objective of $19. Also, the stepping-stone count for the latest cause gives a new target of $28.

    MU may take off again, perhaps after a back-up-to-creek, because the 3-box-reversal chart gives the same $28 target. In other words the shorter term (1-box-reversal) is showing that enough cause has been built in the stepping stone to achieve the $28 target shown on the longer term 3-box-reversal chart.

    $0.50-box by 1-box reversal Point & Figure:
    upload_2016-11-19_13-45-34.png

    $0.50-box by 3-box reversal Point & Figure:
    MU 2016_11_18 1x3PnF.PNG
     
    #12 Onepoint272, Nov 19, 2016
    Last edited: Nov 19, 2016
    Rock Sexton likes this.
  13. Rock Sexton

    Rock Sexton Meat Popsicle

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    No doubt.

    The 3 year POC didn't pose much resistance. The supply that came free there was quickly absorbed, as witnessed by the sell climax volume and quick re-accumulation.

    The pattern itself is an inverse head and shoulders. Measured move of the head to neckline is approx. 10pts and a breakout of the right shoulder typically leads to a similar measured move putting it at that $28 level you speak ..... back-filling prior panic from summer 2015.

    MUupdate2.JPG
     
    Onepoint272 likes this.
  14. Gambit

    Gambit Active Member

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  15. Gambit

    Gambit Active Member

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  16. fidelgeorge

    fidelgeorge Active Member

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    This is a buy before their earnings on Wednesday which should beat the street estimates and way up from last year. I will buy.
     
  17. LloydWCoutee

    LloydWCoutee Active Member

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    Micron Technology's buy rating reiterated at Deutsche Bank AG. $24.00 PT.
     
  18. Gambit

    Gambit Active Member

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    Micron Stock Has Strong Momentum Going Into Q1 Earnings
    Analyst John Pitzer revised his price target from $20 to $25, more than 20% upside from the current price as he expects the supply of DRAM to remain tight through 2017.
     
  19. leonx81

    leonx81 Well-Known Member

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  20. Jeff240sx

    Jeff240sx New Member

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    Holding Jan $21.5 calls. Big fan of the earnings and guidance.
     
    leonx81 likes this.

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