MU - Micron Technology, Inc.

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

  1. fidelgeorge

    fidelgeorge Well-Known Member

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    Shares of Micron Technology ($MU) moved lower in pre-market trading after Goldman Sachs downgraded its rating on the chipmaker to Neutral from Buy.
     
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  2. Onepoint272

    Onepoint272 2019 Stockaholics Contest Winner

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    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
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  3. fidelgeorge

    fidelgeorge Well-Known Member

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    I think you can trade this on trend line basis everyday for the next two weeks leading up to ER
     
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  4. Jack Levy

    Jack Levy Well-Known Member

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    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!
     
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  5. Charles Noble

    Charles Noble Well-Known Member

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    $1.60 EPS for 3Q and guidance of $1.90-2.00 for 4Q would put us somewhere between $35-$37/share post earnings.
     
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  6. Charles Noble

    Charles Noble Well-Known Member

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    If this dips, I'll happily buy more. If it goes up, I'll gladly maintain my position.
     
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  7. Wolfy

    Wolfy Active Member

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    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

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    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

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    Pretty decent EPS beat and great guidance for Q4 yet this thing is trading flat around the close price...
     
  10. T0rm3nted

    T0rm3nted Moderator
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    @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

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    just picked up 5 July 14th $29 Calls for 1.79 - buy all the dips!
     
  12. Gambit

    Gambit Active Member

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    The semiconductor maker's strong demand will likely persist in quarters ahead, assisted by increasing ASPs.
     
  13. Ryan526

    Ryan526 Member

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    This movement makes so much sense...
     
  14. T0rm3nted

    T0rm3nted Moderator
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    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

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    This keeps going down I'm going to take out a loan to buy more lol. Deal of the year right here.
     
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  16. T0rm3nted

    T0rm3nted Moderator
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    And it did!

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

    Wolfy Active Member

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    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
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    I like that covered call idea!
     
  19. Jack Levy

    Jack Levy Well-Known Member

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    Not buying the conspiracy theories. Fake news might be hurting SP, but yesterday showed that people are realizing the truth. $35 coming up.
     
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  20. Charles Noble

    Charles Noble Well-Known Member

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    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 ...
     
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