MICRON Technology Inc. (MU.O) (d-w-m) for Monday (8/22/2016)

 

Unlike August 21, 2015, we got past August 19th, 2016’s third Friday of the month options expiry with Micron Tech  pushing to the upside while the broader market stocks and indices struggled.

  Currently MICRON Technology Inc.’s Moving Average Convergence Divergence (MACD) is bullish since it is trading above its signal line.   The MACD crossed above its signal line 10 days ago.  Since the MACD crossed its moving average, MICRON Technology Inc.’s  price  per share has increased 11.91%, and has ranged from a high of 16.450 to a low of 14.030.  The MACD is in an overbought range.  Prices may continue to move higher for some time.  Wait for prices to move lower before considering any short positions.  There have been no divergence signals within the last 5 periods.
MACD Value:    0.660          MACD Signal Line:    0.514
  Checking the Relative Strength Index (RSI) for Micron Tech (MU.O) finds the RSI above 70 at 70.8093.

MICRON Technology Inc. (MU.O)

  Analysis of MICRON Technology Inc.’s (MU.O) Daily, Weekly, Monthly, (d-w-m) chart activity through Friday’s (8/19/2016) close at  $16.25
The current trend is up and all orders on the long side may be considered.  The current market price activity is Strongly Bullish and suggests favorable trade opportunities on the long side.  If already holding long positions, look to take partial profits on any retracement to 14.03.   Traders with remaining long positions, after profit taking, should consider placing capital conserving stops in the region of 13.60.   Be prepared for a potential short term price pull back to the 14.76 area.
   Suggested placement of capital conserving stops:
If Long — exit all contracts at …     13.02
If Short — exit all contracts at …     16.45
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mu 20160819d
  Chart #1 (above, daily, PP-Sup-Res)   Micron Tech (MU.O)
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  •   :: Pivot point   16.24
  •   Support (s1)  16.04       Support (s2)  15.82
  •   Resistance (r1) 16.46   Resistance (r2)  16.66
  •   Simple Moving Average (Close 50):   $13.46    (uptrend)
  •   Simple Moving Average (Close 200):  $12.48   (downtrend)

Additional Micron Tech (MU.O) DAILY chart info:

  • Overall, the bias in prices is: Upwards.
  • Short term: Prices are moving.
  • 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 13.56
  • The upper projected target is: 17.72
  • The lower projected target is: 14.93
  • The projected closing price is: 16.32
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.

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Related previous Micron Technologies blog posts:

 

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  • Disclosure:   I own MICRON Technology’s (MU.O) shares.    So, first and foremost, I am doing this “Bull and Bear“, “PROs/CONs“, analysis for myself, as my homework and my due diligence, on my investment in MICRON Technology’s (MU.O).    Sharing what I am seeing, opens the door to family, friends, co-workers, neighbors, and readers, to read that which interests them, or that which they asked about,  … and ignore that which doesn’t … after all it’s your money.  Please feel free to add to the discussion.   The  (d-w-m) in any of my blog titles advises my readers that the article will include charts, .. daily, weekly, and monthly charts along with observations,  analysis, and projections. …

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-–  Monday, 8/22/2016   thru    Friday 8/26/2016  ——

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