MICRON Technology Inc. (MU.O) (d-w-m) for Monday (5/15/2017)

———–  Updated w/additional info:  5/14/2017  12:30 AM ET

 This week, Wednesday, May 17th is the VIX Expiration Date and Friday May 19th is May’s third Friday of the month options expiry.  Expect more volatility as traders look to liquidate, roll over, or initiate new options positions regarding their investing, trading, and hedging strategies for June’s FOMC meeting followed two (2) trading days later by June’s third Friday of the month Quadruple Witching of stock and index options and stock and index futures.
If you pay attention to Beta calculations for stocks like Micron Tech (Beta:  1.78), then you will need to familiarize yourself with the information and messages in the actions of the Markets’ indices.  Heading into options expiry this Friday, you will find critical information on US Stock Markets indices, such as Pivot Points, Supports, Resistances … and more, which you can compare for direction,  here:
 While analysis of past performance is no guarantee of similar future results, I tend to agree that those that fail to pay attention to history … are doomed to repeat history’s mistakes.  Since it is our money … in a perfect world, no mistakes would be “perfect”; … whether investing, or trading,  we must strive to do our best homework.  To that end, my blogs will always include buy, sell, and short results as generated by the indicators, as well as any cautionary notes generated.     Occasionally, the buy, sell and short indicators, will offer contrarian advice which I also include as demonstrated by the “pull back”, or “rally” heads up as noted in the “Be prepared … ” comments shaded in red (bearish), or green (bullish), below.  I do not short stocks, but as a long, or potential long,  I do pay attention to the sell/short suggestions and I can’t help but smile  winking-smiley  when one of my sell/short indicators suggests to sell, or short … but warns me to “Be prepared …” for a rally, instead of a pull back …

 MICRON TECH ORD (MU.O)  (d-w-m = Long)

 Currently the Moving Average Convergence Divergence (MACD) for MICRON TECH (MU.O) is bullish since it is trading above its signal line.  The MACD crossed above its signal line 5 trading days ago.  Since the MACD crossed its moving average, MICRON TECH ORD’s price has increased +2.59%, and has ranged from a low of $27.28 to a high of $29.415.  The MACD is not in an Overbought/Oversold range.  There have been no divergence signals within the last 5 trading days.
MACD Value:    0.457        Signal Line:    0.347
 Currently the Relative Strength Index (RSI) for MU is 60.8167 rising from last Friday’s 57.6572.
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mu 20170512d
Chart 1: Micron Tech, Daily, EOD, O-H-L-C w/Resistances (r2, r1), Pivot Point (PP), and Supports (s1, s2).
  •   ———————–
(1) Analysis of DAILY chart activity through 5/12/2017 close:  $28.93
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 $27.28.   Traders with remaining long positions, after profit taking, should consider placing capital conserving stops in the region of $27.10.   Be prepared for a potential short term price pull back to the $27.92 area.
  •    Suggested placement of capital conserving stops:
  •   If Long, exit all contracts at:   26.37
  •   If Short, exit all contracts at:   29.42
(1.a) Additional DAILY chart info:
  • Overall, the bias in prices is: Upwards.
  • Short term: Prices are moving.
  • Intermediate term: Prices are trending.
  • Note (1.a.1) this chart shows extraordinary price action to the upside.
  • Note (1.a.2) prices are vulnerable to a correction towards 26.47.
(1.b) DAILY chart price projection ranges (5/15/2017 – 5/19/2017):
  • The upper projected target is: 30.51.
  • The lower projected target is: 27.52.
  • The projected closing price is: 29.01.
  • Note: the above DAILY chart price projection ranges are for reference only, and can be easily exceeded by Mr. & Ms. Fickle Markets.
(1.c) DAILY chart Moving Averages
  • The 3 period Simple Moving Average (sma3) at 29.0933 is in an uptrend.
  •  The 9 period Simple Moving Average (sma9) at 28.4344 is in an uptrend.
  •  The 20 period Simple Moving Average (sma20) at 27.833 is in an uptrend.
  •  The 50 period Simple Moving Average (sma50) at 27.3184 is in an uptrend.
  •  The 100 period Simple Moving Average (sma100) at 25.2004 is in an uptrend.
  •  The 200 period Simple Moving Average (sma200) at 21.1549 is in an uptrend.
 Note: The uptrends are visible back to May of 2016.  The sma3 and sma9 crossed above the sma100 in May. 2016.  The sma20 crossed above the sma100 6/3/2016.
  •   ———————–
mu 20170512w
  Chart 2: Micron Tech, Weekly, EOD, O-H-L-C w/Resistances (r2, r1), Pivot Point (PP), and Supports (s1, s2).
———————–
(2) Analysis of WEEKLY chart activity through 5/12/2017 close:  $28.93
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 $24.94.   Traders with remaining long positions, after profit taking, should consider placing capital conserving stops in the region of $22.64.   Be prepared for a potential short term price pull back to the $25.40 area.
  •    Suggested placement of capital conserving stops:
  •   If Long, exit all contracts at:    22.64
  •   If Short, exit all contracts at:    29.87
(2.a) Additional WEEKLY chart info:
  • Overall, the bias in prices is: Upwards.
  • Short term: Prices are moving.
  • Intermediate term: Prices are trending.
  • Note (2.a.1): this chart shows extraordinary price action to the upside.
  • Note (2.a.2): prices are vulnerable to a correction towards 21.49.
(2.b) WEEKLY chart price projection ranges (5/8/2017 – 5/19/2017):
  • The upper projected target is: 32.08.
  • The lower projected target is: 26.45.
  • The projected closing price is: 29.26.
  • Note: the above WEEKLY chart price projection ranges are for reference only, and can be easily exceeded by Mr. & Ms. Fickle Markets.
  •   ———————–
mu 20170512m
  Chart 3: Micron Tech, Monthly, EOD, O-H-L-C w/Resistances (r2, r1), Pivot Point (PP), and Supports (s1, s2).
  •   ———————–
(3) Analysis of MONTHLY chart activity through 5/12/2017 close:  $28.93
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 $16.17.   Traders with remaining long positions, after profit taking, should consider placing capital conserving stops in the region of $11.50.   Be prepared for a potential short term price pull back to the $22.99 area.
  •    Suggested placement of capital conserving stops:
  • If Long, exit all contracts at:    9.35
  • If Short, exit all contracts at:   29.87
(3.a) Additional MONTHLY chart info:
  • Overall, the bias in prices is: Upwards.
  • Short term: Prices are moving.
  • Intermediate term: Prices are trending.
  • Note (3.a.1): this chart shows extraordinary price action to the upside.
  • Note (3.a.2): prices are vulnerable to a correction towards 20.41.
(3.b) MONTHLY chart price projection ranges (5/15/2017 – 6/30/2017):
  • The upper projected  target is: 36.77.
  • The lower projected  target is: 21.85.
  • The projected closing price is: 29.31.
  • Note (3.b.1): the above MONTHLY chart price projection ranges are for reference only, and can be easily exceeded by Mr. & Ms. Fickle Markets.
  • Note (3.b.2): Market conditions unrelated to Micron Tech’s actual performance, such as the June FOMC meeting (potential rate increase in the Fed overnight banking rates range to 1.0% to 1.25%) and June’s third Friday of the month Quadruple Witching (6/16/2017) are two of the many scenario analysis conditions contributing to the MONTHLY chart price projection ranges noted above.
  • ———————–

—  Monday, 5/15/2017   thru    Friday 5/19/2017  ——

 

  Hope the above MICRON TECH ORD (MU.O) calculations for Monday, 5/15/2017  help your investing and trading planning today …

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