MICRON Technology Inc. (MU.O) (d-w-m) for Monday (6/5/2017)

 

 The following is a Daily, Weekly, Monthly (d-w-m) chart (technical) analysis of Micron Technology Inc. (MU.O) a semiconductor (computer chip) manufacturer in the
Sector (GICS®)       Information Technology and
Industry (GICS®)  Semiconductors & Semiconductor Equipment
for more about Micron see About Micron Technology Inc. (MU.O)
  see additional info in:

 June 2017  The great, the good, the bad, and the we do not know …

 First, the we do not know:  Market conditions unrelated to Micron Tech’s actual performance, such as, only a week away, the June FOMC meeting June 13th to 14th holds a potential rate increase in the Fed overnight banking rates from the current range of 0.75% to 1.0%  to a range of 1.0% to 1.25%.
Second, then the bad: June’s third Friday of the month Quadruple Witching (6/16/2017) is the second of the many scenario analysis conditions contributing to the Daily, Weekly, and Monthly (d-w-m) chart cautionary notes, pps pull back advisories, and price projection ranges noted below.
The good:  The current markets’ Sentiment suggests the FOMC rate increase is already accounted for.
The great:  IMHO, Micron might serve advance notice this week of its Q3’2017 earnings due out later this June … considering expections are that Micron will beat previously offered guidance.

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

  Friday (6/2/2017):  MU  $31.21 +0.45 (+1.46%)  After Hours : $31.31 +0.10 (+0.32%)

Currently the Moving Average Convergence Divergence (MACD) for MICRON Technology Inc. (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 above its moving average, MICRON TECH ORD’s price has increased +6.05% , and has ranged from a low of 28.875 to a high of $31.38.  The MACD is not in an Overbought/Oversold range.  There have been no divergence signals within the last 5 periods.
MACD Value:    +0.749     Signal Line:    +0.500

 Friday’s (6/2/2017) Relative Strength Index (RSI) for MU was 71.2345 rallying from the previous Friday’s (5/26/2017) 63.412.  Micron’s RSI has been in a Strongly Bullish uptrend since Volatility Expiration Day (5/17/2017) when the RSI had dropped to 42.2538.  The RSI calculations are based on the Close over a 14 trading day period.
———————–
mu 20170602d
  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 Friday’s (6/2/2017) close at $31.21
  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 27.56.   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 29.58 area.
   Suggested placement of capital conserving stops:
If Long, exit all contracts at:   $26.96
If Short, exit all contracts at:  $31.38
(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.
  •  
(1.b) DAILY chart price projection ranges (6/5/2017 – 6/9/2017):
  • Note (1.b.1) prices are vulnerable to a correction towards 27.71.
  • The upper projected target is: $33.02.
  • The lower projected target is: $29.60.
  • The projected closing price is: $31.31.
  • Note: the above DAILY chart price projection ranges are for reference only, and can be easily exceeded by Mr. & Ms. Fickle Markets.
  ———————–
mu 20170602sma-d
  Chart 2: Micron Tech, Daily, EOD, Simple Moving Averages: sma3, sma9, sma20, sma50, sma100, sma200, sma400 … looking for moving average trends and crossovers
———————–
(1.c) DAILY chart Moving Averages
  •  The 3 period Simple Moving Average (sma3) at 30.91 is in an uptrend.
  •  The 9 period Simple Moving Average (sma9) at 29.77 is in an uptrend.
  •  The 20 period Simple Moving Average (sma20) at 29.02 is in an uptrend.
  •  The 50 period Simple Moving Average (sma50) at 28.29 is in an uptrend.
  •  The 100 period Simple Moving Average (sma100) at 26.185 is in an uptrend.
  •  The 200 period Simple Moving Average (sma200) at 22.27 is in an uptrend.
  •  The 400 period Simple Moving Average (sma400) at 17.39 is in an uptrend.
  •   ———————–
mu 20170602w
  Chart 3: 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 Friday’s (6/2/2017) close at $31.21
  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 $24.94.   Be prepared for a potential short term price pull back to the $25.95 area.
   Suggested placement of capital conserving stops:
If Long, exit all contracts at:   $22.64
  If Short, exit all contracts at:  $31.38
(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.
(2.b) WEEKLY chart price projection ranges (6/5/2017 – 6/16/2017):
  • Note (2.b.1): prices are vulnerable to a correction towards 21.90.
  • The upper projected target is: $34.55.
  • The lower projected target is: $28.63.
  • The projected closing price is: $31.59.
  • Note: the above WEEKLY chart price projection ranges are for reference only, and can be easily exceeded by Mr. & Ms. Fickle Markets.
  ———————–
mu 20170602sma-w
  Chart 4: Micron Tech, Weekly, EOD, Simple Moving Averages: sma3, sma9, sma20, sma50, sma100, sma200, sma400 … looking for moving average trends and crossovers
———————–
(2.c) WEEKLY chart Moving Averages
  •  The 3 period Simple Moving Average (sma3) at 29.60 is in an uptrend.
  •  The 9 period Simple Moving Average (sma9) at 28.46 is in an uptrend.
  •  The 20 period Simple Moving Average (sma20) at 26.56 is in an uptrend.
  •  The 50 period Simple Moving Average (sma50) at 20.99 is in an uptrend.
  •  The 100 period Simple Moving Average (sma100) at 17.43 is in an uptrend.
  •  The 200 period Simple Moving Average (sma200) at 21.94 is in an uptrend.
  •  The 400 period Simple Moving Average (sma400) at 15.08 is in an uptrend.
  • ———————–
mu 20170602m
  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 (6/2/2017) close at $31.21
   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 $24.45 area.
   Suggested placement of capital conserving stops:
If Long, exit all contracts at:    $9.35
If Short, exit all contracts at:  $31.38
(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.
(3.b) MONTHLY chart price projection ranges (6/5/2017 – 6/30/2017):
  • Note (3.b.1): prices are vulnerable to a correction towards 21.13.
  • The upper projected target is: $39.18.
  • The lower projected target is: $24.12.
  • The projected closing price is: $31.65.
  •  Note (3.b.2): 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.3): As noted above, Market conditions unrelated to Micron Tech’s actual performance, such as the June FOMC meeting 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.

 

—  Monday, 6/5/2017   thru    Friday 6/9/2017  ——

 

  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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