MICRON Technology Inc (MU.O) (d-w-m) (p3)

Quadruple witching Friday 3/18/2016 is behind us.   The Fed rate decision is behind us.   Micron reported Q2’2016 earnings after the markets closed 3/30/2016, and held a financial  call at 4:30 PM ET the same day.   I read through the Q2’2016 report and listened in on the financial call and question and answer (Q&A) period that followed.  Micron reported a GAAP loss of -9c (non-GAAP of -5c/share)  per share, which beat analyst expectations that the Micron Q2’2016 loss would be worse.   I am preparing to complete and post a separate draft on Micron’s Q2’2016 earnings report and financial call.   Lastly, the first calendar quarter of 2016 ended on March 31st. 

Disclosure:  I own shares in MICRON Technology Inc.  (MU.O).    That is why I read through Micron’s  Q2’2016 report and listened in on the financial call and question and answer (Q&A) period that followed.    That is why I will listen to the Micron Q2’2016 call again.  I am doing this “Bull and Bear“, “Pros/Cons“,  daily-weekly-monthly (d-w-m) chart analysis for myself, as my homework, and due diligence, on my investment in MICRON Technology Inc.  (MU.O)  and  sharing, what I am seeing in that analysis, with you today for next week’s trading.

Micron Home page:   https://www.micron.com/

 

 

Related previous blog posts:

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mu 20160401d

Daily MU chart #1  activity through Friday’s (4/1/2016) close @ 11.03 
   A potential buying opportunity has been detected.  Consider closing out any open short positions and possibly establish a position to the long side. Proper use of a capital conserving trailing stop can help limit your initial risk exposure as well as protect your profits.  Micron opened below, and then rallied Friday 4/1/2016 to close above both its 20 day and 50 day Simple Moving Averages (SMA) …
  Candlesticks Daily MU chart activity:  A big white candle occurred.  This is generally considered bullish, as prices closed significantly higher than they opened.  If the candle appears when prices are “low,” it may be the first sign of a bottom.  If it occurs when prices are rebounding off of a support area (e.g., a moving average, trend line, or retracement level), the long white candle adds credibility to the support.  Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
During the past 10 bars, there have been 5 white candles and 4 black candles for a net of 1 white candles.  During the past 50 bars, there have been 23 white candles and 25 black candles for a net of 2 black candles.
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mu 20160401raf
(1)  Analysis of Daily MU chart #2 activity through Friday’s (4/1/2016) close @ 11.03
  The current Daily MU chart trend is down and all orders on the short side may be considered.  Market activity analysis suggests short trades.  If already holding short positions, look to take partial profits on any retracement to 11.60.  Traders with remaining short positions, after profit taking, should consider placing capital conserving stops in the region of 11.60.
Suggested placement of capital conserving stops:
If Long,  exit all contracts at:     10.01
If Short,  exit all contracts at:     11.60
Additional Daily chart observations, analysis, and projections
  • Overall, the bias in prices is: Downwards.
  • Short term: Prices are stalling.
  • Intermediate term: Prices are trending.
By the way, prices are vulnerable to a correction Rally towards 12.31.
  • The upper projected target is: 12.31.
  • The lower projected target is: 9.80.
  • The projected closing price is: 11.05.
  •   Note: these price projections are for reference only, and can be easily exceeded by Mr. & Ms. Fickle Markets.
mu 20160401w
 (2) Analysis of Weekly MU chart activity through Friday’s (4/1/2016) close @ 11.03
   The current trend is down and all orders on the short side may be considered.  Market activity analysis suggests short trades.  If already holding short positions, look to take partial profits on any retracement to 12.29.  Traders with remaining short positions, after profit taking, should consider placing capital conserving stops in the region of 13.46.  Be prepared for a potential short term price rally back to the 12.50  area.
Suggested placement of capital conserving stops:
If Long,  exit all contracts at:        9.31
If Short,  exit all contracts at:     15.08
Additional Weekly chart observations, analysis, and projections
  • Overall, the bias in prices is: Downwards.
  • Short term: Prices are stalling.
  • Intermediate term: Prices are trending.
  •   Note: this chart shows extraordinary price action to the downside.
By the way, prices are vulnerable to a correction rally towards 16.91.
  • The upper projected target is: 14.42.
  • The lower projected target is:   6.96.
  • The projected closing price is: 10.69.
  •   Note: these price projections are for reference only, and can be easily exceeded by Mr. & Ms. Fickle Markets.

 

( chart )

(3) Analysis of Monthly MU chart activity through Friday’s (4/1/2016) close @ 11.03
   The current trend is down and all orders on the short side may be considered.  Market activity analysis suggests short trades.  The current Micron Monthly charted market price activity is Strongly Bearish and suggests favorable trade opportunities on the short side.  If already holding short positions, we would look to take partial profits on any retracement to 19.47.  Traders with remaining short positions, after profit taking, should consider placing capital conserving stops in the region of 29.25.  Be prepared for a potential short term price rally back to the 15.83 area.
Suggested placement of capital conserving stops:
If Long,  exit all contracts at:      9.31
If Short,  exit all contracts at:     32.84
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   III.  Below you will find the 52 week performance, and the Year-to-Date (YTD) performance.  For tracking the day’s action, here are the Pivot Points, Support points, Resistance points,  and the 50 day simple moving averages (sma),  for MICRON TECHNOLOGY INC  (MU)  CUSIP   595112103.

  •  If the related index, or stock, is above the pivot point, the pivot point is both support, and an indication that Mr. & Ms. Fickle Markets are Bullish.
  •  If the related Index, or stock, is below the pivot point, then the pivot point represents resistance, as well as an indication that Mr. & Ms. Fickle Markets are Bearish.
  •   Please Note: ALL projections are for reference only.
( 9.a.) MICRON TECHNOLOGY INC (MU) for Monday, 4/4/2016
Closed 4/1 up  @ 11.03  +0.56 (+5.35%)   After Hours:  10.98 -0.05 (-0.45%)
  •   :: Pivot point    10.78
  •   Support (s1)    10.49     Support (s2)   9.95
  •   Resistance (r1)  11.32    Resistance (r2)  11.61
  •   Simple Moving Average (Close 50):  10.82
  •   :: 52 week High   29.78     52 week Low   9.31
  •   :: 52 week performance   -59.34%  YTD performance  -68.49%
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——  Monday, 4/4/2016 thru Friday 4/8/2016  ——-

 

( x)   All Links can be opened in a new tab or new window …

  •  ( xi )  I will be returning and adding more related chart info including links to charts with  daily, weekly, and monthly chart analysis

 

Please read:

 
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Hope the above Micron Tech (MU.O) Charts, Support, and Resistance calculations for Monday, 4/4/2016  help your investing and trading homework and planning today …
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