MICRON Technology Inc. (MU.O) (d-w-m) for Monday (6/12/2017)

First, a quick check as to why it is necessary to protect your investments and money by a top down analysis of the markets, sectors, industries, sub-industries, the stock or fund you are considering investing, or selling, as well as customers and competitors of individual companies.   Friday, a negative opinion that Nvidia (NVDA) had “… gotten ahead of itself … ” by a short seller with talking heads television air time, no less, didn’t  just hurt Nvidia, which oh by the way, has some great fundamentals, quarter over quarter, and year over year,  compared to the market and industry … but, also hurt MICRON Technology Inc. (MU.O) as well as other Nasdaq Technology companies.    It’s numbers like Nvidia’s, and Micron’s inproving numbers, that’s sure to bring investors right back to the bargain bin Nvidia was tossed into.

IndexChart 20170609

 Chart #0:  Intraday index performance Friday, 6/9/2017

  • DJ Indu Avg … 21,271.97   +89.44 (+0.42%) (chart: blue)
  • Nasdaq …………. 6,207.92  -113.85 (-1.80%) (chart: gold)
  • S&P 500 ………… 2,431.77      -2.02 (-0.08%) (chart: red )
  • ——————————————-

 

However, this article is a Bull/Bear, Pros, & Cons, daily, weekly, monthly, (d-w-m) chart analysis about Micron Tech, so, setting Nvidia aside, the first Micron Tech question popping into a trader’s head is: “Heading into FOMC and Quadruple Witching week, did Friday’s beat down of Micron shares hurt, or help,  Micron’s outlook for Monday thru Friday?”

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

from Friday, 6/9/2017: $30.60 -1.85 (-5.70%) After Hours:  30.75 +0.15 (+0.49%)

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 10 trading days ago. Since the MACD crossed above its moving average, MICRON TECH ORD’s price has increased +3.98%, and has ranged from a low of 28.875 to a high of 32.93. The MACD is not in an Overbought/Oversold range. There have been no divergence signals within the last 5 periods.
MACD Value: +0.951                 Signal Line: +0.801

Friday’s (6/2/2017) Relative Strength Index (RSI) for MU was 56.4424. Micron’s RSI had 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 20170609d

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 (6/9/2017) close at $30.60
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 $29.55. Traders with remaining long positions, after profit taking, should consider placing capital conserving stops in the region of $28.44. Be prepared for a potential short term price rally back to the $31.01 area.

  • Suggested placement of capital conserving stops:
  • If Long, exit all contracts at: $27.56
  • If Short, exit all contracts at: $32.93

 

(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 (6/12/2017 – 6/16/2017):

Note (1.a.2) prices are vulnerable to a correction towards 28.89.

  • The upper projected target is: $32.39.
  • The lower projected target is: $28.89.
  • The projected closing price is: $30.64.
  • Note: the above DAILY chart price projection ranges are for reference only, and can be easily exceeded by Mr. & Ms. Fickle Markets.
  • ———————–

 

mu 20170609sma-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 31.85 is in an uptrend.
  • The 9 period Simple Moving Average (sma9) at 31.31 is in an uptrend.
  • The 20 period Simple Moving Average (sma20) at 29.77 is in an uptrend.
  • The 50 period Simple Moving Average (sma50) at 28.64 is in an uptrend.
  • The 100 period Simple Moving Average (sma100) at 26.65 is in an uptrend.
  • The 200 period Simple Moving Average (sma200) at 22.66 is in an uptrend.
  • The 400 period Simple Moving Average (sma400) at 17.57 is in an uptrend.
  • ———————–

mu 20170609w

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 (6/9/2017) close at $30.60

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 $25.43. Be prepared for a potential short term price pull back to the $26.16 area.

  • Suggested placement of capital conserving stops:
  • If Long, exit all contracts at: $23.15
  • If Short, exit all contracts at: $32.93

(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.a.2): prices are vulnerable to a correction towards 22.05.
  • The upper projected target is: $33.92.
  • The lower projected target is: $27.97.
  • The projected closing price is: $30.95.
  • Note: the above WEEKLY chart price projection ranges are for reference only, and can be easily exceeded by Mr. & Ms. Fickle Markets.
  • ———————–

 

 

mu 20170609sma-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 30.52 is in an uptrend.
  • The 9 period Simple Moving Average (sma9) at 28.69 is in an uptrend.
  • The 20 period Simple Moving Average (sma20) at 26.99 is in an uptrend.
  • The 50 period Simple Moving Average (sma50) at 21.34 is in an uptrend.
  • The 100 period Simple Moving Average (sma100) at 17.56 is in an uptrend.
  • The 200 period Simple Moving Average (sma200) at 22.02 is in an uptrend.
  • The 400 period Simple Moving Average (sma400) at 15.14 is in an uptrend.
  • ———————–

 

mu 20170609m

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 $30.60

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 24.33 area.

  • Suggested placement of capital conserving stops:
  • If Long, exit all contracts at: $9.35
  • If Short, exit all contracts at: $32.93

 

(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 (5/29/2017 – 6/30/2017):

  • Note (3.a.2): prices are vulnerable to a correction towards 21.08.
  • The upper projected target is: $38.56.
  • The lower projected target is: $23.49.
  • The projected closing price is: $31.02.
  • 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): 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, 6/12/2017   thru    Friday 6/16/2017  ——

 

  Hope the above MICRON TECH ORD (MU.O) calculations for Monday, 6/12/2017, day, week, and month,  helps your investing and trading planning today …

 

 

 

 

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s