MICRON Technology Inc. (MU.O) (d-w-m) for Tuesday (5/30/2017)

 

  Wednesday, 5/17/2017, Volatility Expiration Day, played havoc with Micron Tech’s numbers.  This is because “hedging” includes algorithim driven, convoluted schemes hoping to protect the High Frequency Trading and Hedge Fund downside but also limit the upside profit in stocks, funds, indices, and more.  When these schemes have to be unwound, it can look like the sky is falling.  It’s a game that only can be played second to second, with and by computerized trading, meaning the individual investors (a.k.a. “humans”), get left sitting on the bench, or jumping into the game only to find they are aiding the computerized trading schemes, when a couple of days later prices have recovered.  The convoluted schemes have collected the profit they were limited to, and have forced prices lower, so ‘new’ schemes can protect while looking to squeeze out more upside profit.
To be forewarned, is to be forearmed.  Make it your homework to know critical expiration days, and at least learn what past Quadruple Witching Expiration Days, which occur 4 times a year, did in the past to EACH of your investments.  Whether you are Bullish, or Bearish, you need to do the BuySell-Short homework to get the Reward/Risk Ratio picture … and it is your money, so isn’t a little bit more time worth the effort?  Of course, you are always welcome here.  You can also add to the discussion in the comment section below.
  That said, I am observing Micron’s Daily-Weekly, Monthly (d-w-m) numbers, the cautionary numbers (highlighted in red) have been, and are, improving, tracking the bullish “long” indications to the upside.  These improving numbers also can be referred to as contrarian indicators (highlighted in green); if, normally sellside indicators are now cautioning sells and shorts, against “higher” prices.   Compare the numbers from May 8th, 15th, and May 22, to these for the week beginning Memorial Day Monday May 29th.  Here are two Micron examples:

 Micron (a): one of my usually bearish (long, sell, short) Pivot Point indicators, suggested, only 1 trading day after Volatility Expiration Day, going Long Micron on Thursday (5/18/2017) Close at $27.48 with a tight capital conserving stop at 27.28.  So far that decision is showing a $2.28 per share profit …. and still “Long”.

Micron (b): a second of my usually bearish (long, sell, short) Pivot Point indicators, suggested going Long Micron on Monday (5/22/2017) Close at $28.06 with a capital conserving stop at 26.96.  So far that decision is showing a $1.70 per share profit …. and still “Long”. 

 Another example, check out the BIG contrarian indications (highlighted in green) in sell-short suggestions for Qualcomm (QCOM) which you can read here:
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 MICRON Technology Inc. (MU.O) (d-w-m) Chart Analysis

 

  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 1 trading day ago.  Since the MACD crossed its moving average, MICRON TECH ORD’s price has increased +1.12% , and has ranged from a low of 28.875 to a high of 29.77.  The MACD is not in an Overbought/Oversold range.  There have been no divergence signals within the last 5 trading days.
MACD Value:    +0.370        Signal Line:    +0.284
 Friday’s (5/26/2017) Relative Strength Index (RSI) for MU was 63.412 rallying back from the previous Friday’s (5/19/2017) 49.3271.
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mu 20170526d
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 (5/26/2017) close at $29.76
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 $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 pull back to the $28.12 area.
  •    Suggested placement of capital conserving stops:
  •   If Long, exit all contracts at:   $26.96
  •   If Short, exit all contracts at:  $29.77
(1.a) Additional DAILY chart info:
  • Overall, the bias in prices is: Upwards.
  • Short term: Prices are moving.
  • Intermediate term: Prices are trending.
  • Note: this chart shows extraordinary price action to the upside.
(1.b) DAILY chart price projection ranges (5/30/2017 – 6/2/2017):
  • The upper projected target is: 31.55.
  • The lower projected target is: 28.11.
  • The projected closing price is: 29.83.
  • Note: the above DAILY chart price projection ranges are for reference only, and can be easily exceeded by Mr. & Ms. Fickle Markets.
  •   ———————–
mu 20170526sma-d
  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
  •  The 3 period Simple Moving Average (sma3) at 29.39 is in an uptrend.
  •  The 9 period Simple Moving Average (sma9) at 28.43 is in an uptrend.
  •  The 20 period Simple Moving Average (sma20) at 28.44 is in an uptrend.
  •  The 50 period Simple Moving Average (sma50) at 27.89 is in an uptrend.
  •  The 100 period Simple Moving Average (sma100) at 25.84 is in an uptrend.
  •  The 200 period Simple Moving Average (sma200) at 21.95 is in an uptrend.
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mu 20170526w
  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 (5/26/2017) close at $29.76
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 $26.36.   Traders with remaining long positions, after profit taking, should consider placing capital conserving stops in the region of $24.81.   Be prepared for a potential short term price fall back to the 25.65 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 21.71.
(2.b) WEEKLY chart price projection ranges (5/29/2017 – 6/9/2017):
  • The upper projected target is: 33.04.
  • The lower projected target is: 27.19.
  • The projected closing price is: 30.11.
  • Note: the above WEEKLY chart price projection ranges are for reference only, and can be easily exceeded by Mr. & Ms. Fickle Markets.
  •   ———————–
mu 20170526sma-w
  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
  •  The 3 period Simple Moving Average (sma3) at 28.84 is in an uptrend.
  •  The 9 period Simple Moving Average (sma9) at 28.21 is in an uptrend.
  •  The 20 period Simple Moving Average (sma20) at 26.11 is in an uptrend.
  •  The 50 period Simple Moving Average (sma50) at 20.61 is in an uptrend.
  •  The 100 period Simple Moving Average (sma100) at 17.31 is in an uptrend.
  •  The 200 period Simple Moving Average (sma200) at 21.85 is in an uptrend.
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mu 20170526m
  Chart 5: Micron Tech, Monthly, EOD, O-H-L-C w/Resistances (r2, r1), Pivot Point (PP), and Supports (s1, s2).
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(3) Analysis of MONTHLY chart activity through Friday’s (5/26/2017) close at $29.76
   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 $22.81 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, 5/29/2017   thru    Friday 6/2/2017  ——

 

  Hope the above MICRON TECH ORD (MU.O) calculations for Tuesday, 5/30/2017  this week, and month,  help your investing and trading planning today …

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