MICRON Technology Inc. (MU.O) (d-w-m) (p8)

 

 The CLAW.

 The Claw chart formation, which I am seeing in Micron’s Weekly and Monthly charts, occurs when the Resistances (r1, r2) AND the Supports (s1, s2) converge to the Pivot Point.  Talk about crowded.  This formation is my “Heads up” that (1) a potentially big move is coming and (2) that more homework is needed to determine whether it’s Bullish, or Bearish.   A picture being worth a 1000 words … so here are the charts.
  Note:  it’s already 4 AM ET …  so, forgive me but I need a few z’s before I run any more numbers …

 MICRON TECH ORD(MU.O)

  Analysis of MICRON Technology’s (MU.O) Daily, Weekly, Monthly, (d-w-m) chart activity through Monday’s (8/1/2016) close at  $13.56
The current trend is up and all orders on the long side may be considered.  If already holding long positions, look to take partial profits on any retracement to 13.02.   Traders with remaining long positions, after profit taking, should consider placing capital conserving stops in the region of 13.02.   Be prepared for a potential short term price pull back to the 13.27 area.
   Suggested placement of capital conserving stops:
If Long — exit all contracts at …     12.98
If Short — exit all contracts at …     14.89
—–
kgc 20160801d—–
Chart #1 (above, daily, PP-Sup-Res)   Micron Tech (MU.O)
  • :: Pivot point   13.68
  •   Support (s1)  13.43       Support (s2)  13.31
  •   Resistance (r1) 13.80   Resistance (r2)  14.05
  •   Simple Moving Average (Close 50):   $12.77    (uptrend)
  •   Simple Moving Average (Close 200):  $12.66   (downtrend)
  •   52 week High   20.10      52 week Low   9.31
Additional Micron Tech (MU.O) DAILY chart info:
  • Overall, the bias in prices is: Upwards.
  • Short term: Prices are stalling.
  • Intermediate term: Prices are trending.
  • Note (1): this chart shows extraordinary price action to the upside.
  • Note (2):prices are vulnerable to a correction towards 12.63.
  • The upper projected target is: 15.03.
  • The lower projected target is: 12.23.
  • The projected closing price is: 13.63.
Note: these price projections are calculated from previous trading activity and therefore for reference only, and can be easily exceeded, up or down,  by Mr. & Ms. Fickle Markets.  Sorry, past performance is no guarantee of future similar results.
—–
kgc 20160801w
   Chart #2 (above, weekly, PP-Sup-Res)  Micron Tech (MU.O)  Weekly (Monday 8/1/2016 to Friday 8/5/2016)
  •    :: Pivot point   13.68
  •   Support (s1)  13.43       Support (s2)  13.31
  •   Resistance (r1)  13.80    Resistance (r2)  14.05
  •   Simple Moving Average (Close 50):    13.23    (downtrend)
  •   Simple Moving Average (Close 200):   19.12     (uptrend)
   Additional Micron Tech (MU.O) WEEKLY chart info:
  • Overall, the bias in prices is: Downwards.
  • Short term: Prices are moving.
  • Intermediate term: Prices are trending.
  • The upper projected target is: 16.09.
  • The lower projected target is: 10.99.
  • The projected closing price is: 13.54.
Note: these price projections are calculated from previous trading activity and therefore for reference only, and can be easily exceeded, up or down,  by Mr. & Ms. Fickle Markets.  Sorry, past performance is no guarantee of future similar results.
     —–
kgc 20160801m
   Chart #3 (above, monthly, PP-Sup-Res)  Micron Tech (MU.O) Monthly   Monday 8/1/2016 to Wednesday 8/31/2016
  •    :: Pivot point   13.68
  •   Support (s1)  13.43       Support (s2)  13.31
  •   Resistance (r1)  13.80  Resistance (r2)  14.05
  •   Simple Moving Average (Close 50):   18.35    (uptrend)
  •   Simple Moving Average (Close 200):  17.12    (downtrend)
  Additional Micron Tech (MU.O) MONTHLY chart info:
  • Overall, the bias in prices is: Downwards.
  • Short term: Prices are moving.
  • Intermediate term: Prices are trending.
  • Note (1): this chart shows extraordinary price action to the downside.
  • The upper projected target is: 20.57.
  • The lower projected target is: 6.84.
  • The projected closing price is: 13.71.
Note: these price projections are calculated from previous trading activity and therefore for reference only, and can be easily exceeded, up or down,  by Mr. & Ms. Fickle Markets.  Sorry, past performance is no guarantee of future similar results.
Related previous Micron Technologies blog posts:

-–  Monday, 8/1/2016   thru    Friday 8/5/2016  ——

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One thought on “MICRON Technology Inc. (MU.O) (d-w-m) (p8)

  1. Thank You Sir for all your hard work. A comment on the importance of MU/INTC with PCM, O.T.S. I did not want to post this on the wild and crazy S/A board in ref to MU. There I am 22 nowind and posted about my fr-in-law @ Battle of the Bulge. I am NOT military, but 35 yrs as anesthesiologist saw much trauma, gunshots, knifing, etc Boston, Chicago, Detroit. Because PCM is radiation hard the military is fully well aware of this. A few stories I was at the initial ENER bankruptcy hearing in Detroit(Judge Tucker-circa 2012), keyed in on the phone was DOD/DOE. They both are very aware of these superb technologies, especially the EMP hardness of phase change memory. Another story I was with my friend Stan Ovshinsky(ENER) and inventor of PCM. He invited me and another individual for lunch. There were only the (3) of us, and the discussions were varied, but centered around “STAR WARS” and the abilities of PCM being radiation hard. The individual wanted the PCM chip for the “STAR WARS” project. PCM was not commercially available then(Circa 1986). The individual was none other than NOBELIST DR. EDWARD TELLER. Needless to say I was SPEECHLESS !! Anybody who could develop a bomb that could throw dirt/rocks/dust 20 miles into the atmosphere and have that spread into a HUGE mushroom cloud, has to be taken very very seriously. Thank you again SIR for your service to our country. Doc.

    Liked by 1 person

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