MICRON Technology Inc. (MU.O) (d-w-m) for Monday (5/22/2017)

 

 This week, on Monday, all Canada Exchanges will be closed.  Thursday, the Swiss Exchange (SIX) will be closed.  There are only seven trading days left in May 2017.  Next week, Monday, 5/29/2017, is Memorial Day and all US exchanges will be closed while HKEX Hang Seng Index Futures will be expiring.
Last week, despite Volatility Expiration Wednesday and third Friday of the month options expiry in combo with Prez Trump’s trials and tribulations concerning Russia, Traders looking to profit from volatility have had to get in and out … timing is proving to be difficult, if not impossible.  With so much of the markets driven by computer trading, humans are becoming irrelevant, and if the computers do not like the trading numbers … they have the algorithm power to change the numbers to trading numbers they do like.
  MICRON Technology Inc. (MU.O) (d-w-m = Long) for Monday (5/22/2017)
 Wednesday, Volatility Expiration Day, played havoc with Micron Tech’s numbers.  That said, many of the cautionary numbers have been, and are, improving, tracking the bullish “long” indications to the upside.  Compare the numbers from May 8th and 15th, to these for the week beginning tomorrow May 22.
Currently, the Moving Average Convergence Divergence (MACD) for MICRON TECH (MU.O) has turned bearish since it is trading below its signal line.  The MACD crossed below its signal line, Wednesday, 2 trading days ago.  Since the MACD crossed below its moving average, MICRON TECH ORD’s price has increased +3.04%, and has ranged from a low of $26.96 to a high of $28.51.  The MACD is not in an Overbought/Oversold range.  There have been no divergence signals within the last 5 trading days.
MACD Value:    0.190        Signal Line:    0.315
 Friday’s (5/19/2017) Relative Strength Index (RSI) for MU was 49.3271 pulling back from the previous Friday’s (5/12/2017) 60.8167.
 Note: one of my usually bearish (sell, or short) Pivot Point indicators, suggested going Long Micron on Thursday 5/18/2017 at $27.48 with a tight capital conserving stop at 27.28.  So far that decision is showing a 34 cent profit ….   winking-smiley
 See daily updates on changes in day to day metrics in:
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mu 20170519d
  Chart 1: Micron Tech, Daily, EOD, O-H-L-C w/Resistances (r2, r1), Pivot Point (PP), and Supports (s1, s2).
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(1) Analysis of DAILY chart activity through Friday’s (5/19/2017) close at $27.82
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 $26.96.  Traders with remaining long positions, after profit taking, should consider placing capital conserving stops in the region of $26.96.  Be prepared for a potential short term price rally back to the $28.01  area.
Suggested placement of capital conserving stops:

  •   If Long, exit all contracts at:   $26.96
  •   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 stalling.
  • Intermediate term: Prices are trending.
  • Note (1.a.1) prices are vulnerable to a correction towards $26.64.
(1.b) DAILY chart price projection ranges (5/22/2017 – 5/26/2017):
  • The upper projected target is:  $29.58.
  • The lower projected target is:  $26.16.
  • The projected closing price is:  $27.87.
  • Note: the above DAILY chart price projection ranges are for reference only, and can be easily exceeded by Mr. & Ms. Fickle Markets.
  ———————–
mu 20170519sma
  Chart 2: Micron Tech, Daily, EOD, Simple Moving Averages: sma3, sma9, sma20, sma50, sma100, sma200, sma400 … looking for moving average trends and crossovers
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(1.c) DAILY chart Moving Averages (Chart 2 above)
  •  The 3 period Simple Moving Average (sma3) at 27.43 is in a down trend.
  •  The 9 period Simple Moving Average (sma9) at 28.47 is in an uptrend.
  •  The 20 period Simple Moving Average (sma20) at 28.00 is in an uptrend.
  •  The 50 period Simple Moving Average (sma50) at 27.57 is in an uptrend.
  •  The 100 period Simple Moving Average (sma100) at 25.52 is in an uptrend.
  •  The 200 period Simple Moving Average (sma200) at 21.59 is in an uptrend.
  •  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. Note: Last week, the 3 period SMA has crossed below the SMA9, the SMA20, and the SMA50.  The SMA3 crossed below the SMA 50 twice in November 2016 … and the uptrend in Micron gained steam.
  •   ———————–
mu 20170519w
Chart 3: Micron Tech, Weekly, EOD, O-H-L-C w/Resistances (r2, r1), Pivot Point (PP), and Supports (s1, s2).
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(2) Analysis of WEEKLY chart activity through Friday’s (5/19/2017) close at $27.82
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 $25.43.   Traders with remaining long positions, after profit taking, should consider placing capital conserving stops in the region of $23.15.  Be prepared for a potential short term price fall back to the $25.51 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):  WEEKLY prices are vulnerable to a correction towards $21.60.
(2.b) WEEKLY chart price projection ranges (5/22/2017 – 5/26/2017):
  • The upper projected target is:  $31.00.
  • The lower projected target is:  $25.24.
  • The projected closing price is:  $28.12.
  • Note: the above WEEKLY chart price projection ranges are for reference only, and can be easily exceeded by Mr. & Ms. Fickle Markets.
  •   ———————–
———————–
mu 20170519smaw
  Chart 4: Micron Tech, Weekly, EOD, Simple Moving Averages: sma3, sma9, sma20, sma50, sma100, sma200, sma400 … looking for moving average trends and crossovers
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(2.c) WEEKLY chart Moving Averages  (chart 4 above)
  •  The 3 period Simple Moving Average (sma3) at 28.32 is in an uptrend.
  •  The 9 period Simple Moving Average (sma9) at 28.06 is in an uptrend.
  •  The 20 period Simple Moving Average (sma20) at 25.72 is in an uptrend.
  •  The 50 period Simple Moving Average (sma50) at 20.26 is in an uptrend.
  •  The 100 period Simple Moving Average (sma100) at 17.21 is in an uptrend.
  •  The 200 period Simple Moving Average (sma200) at 21.76 is in an uptrend.
  •   ———————–
mu 20170519m
  Chart 5: 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 Friday’s (5/19/2017) close at $27.82
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 fall back to the $22.81 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 $20.34.
(3.b) MONTHLY chart price projection ranges (5/15/2017 – 6/30/2017):
  • The upper projected target is:  $35.63.
  • The lower projected target is:  $20.72.
  • The projected closing price is:  $28.18.
  • Note (3.b.1): the above MONTHLY chart price projection ranges are for reference only, and can be easily exceeded, up or down, 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 from  a range of 0.75% to 1.0%  to a range of 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, 5/22/2017   thru    Friday 5/26/2017  ——

 

  Hope the above MICRON TECH ORD (MU.O) calculations for Monday, 5/22/2017  this week, and month,  help your investing and trading planning today …

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