MICRON Technology Inc. (MU.O) (d-w-m) for Monday (6/19/2017)

 

The Tuesday – Wednesday FOMC meeting last week with the expected overnight interest rates range increase to 1.0% to 1.25% is behind us.  The FOMC surprised the markets with more info concerning reduction in its balance sheet.  Friday’s Quadruple Witching is also behind us.   Only 10 more trading days left in June 2017.  We are approaching the end of calendar quarter Q2’2017, and H1’2017. We’re also winding down to the “window dressing” phase of funds preparing their quarterly reports to shareholders …

I was expecting a pre-announcement on Micron’s Q3’2017 earnings.  Apparently, the markets were also expecting a pre-announcement, and when they didn’t get it … the markets threw a terrible twos toddler temper tantrum.  Okay, we didn’t get a Micron pre-announcement … but anyone doing their own Micron-customer-competitor … homework sees the writing on the wall.   IMHO:  (1) The computers are sadly mistaken.  (2) So, much for the so-called “smart” algorithms .. and AI.  (3) The lack of a pre-announcement, could be the new CEO may be preparing a quarterly report presentation the likes of which we’ve been wishing, … and begging for.

Micron’s Third Quarter 2017 Financial Call
Jun 29, 2017 at 4:30 PM ET

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

from Friday, 6/9/2017: $29.86 -0.70 (-2.29%)

Currently the Moving Average Convergence Divergence (MACD) for MICRON Technology Inc. (MU.O) is bearish since it is trading below its signal line. The MICRON Tech MACD crossed below its signal line 2 trading days ago. Since the MACD crossed below its moving average, MICRON TECH ORD’s price has decreased 3.86%, and has ranged from a low of 29.820 to a high of 31.790. The MICRON Tech MACD is not in an Overbought/Oversold range. There have been no divergence signals within the last 5 trading days.
MACD Value: +0.608                   Signal Line: +0.776

Friday’s (6/2/2017) Relative Strength Index (RSI) for MU was 48.3464. The RSI calculations are based on the Close over a 14 trading day period.

For every trading day in the month of June 2017, Daily Pivot Points, Support, Resistance, Daily (and now: Weekly) ‘projected’ Highs, ‘projected’ Lows, and more, see:

Micron Tech (MU.O) Daily Support and Resistance for June 2017

———————–

mu 20170616d

Chart 1: Micron Tech, Daily, EOD, O-H-L-C w/Resistances (r2, r1), Pivot Point (PP), and Supports (s1, s2).   (set as featured chart)

———————–

(1) Analysis of DAILY chart activity through Friday’s (6/16/2017) close at $29.86

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 $29.21.  Traders with remaining long positions, after profit taking, should consider placing capital conserving stops in the region of $29.21.  Be prepared for a potential short term price rally back to the $30.96 area.

  • Suggested placement of capital conserving stops:
  • If Long, exit all contracts at: $28.88
  • 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 stalling.
  • 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 (6/19/2017 – 6/23/2017):

  • Note (1.b.1) prices are vulnerable to a correction towards 28.98.
  • The upper projected target is: $31.69
  • The lower projected target is: $28.09
  • The projected closing price is: $29.89
  • Note: the above DAILY chart price projection ranges are for reference only, and can be easily exceeded by Mr. & Ms. Fickle Markets.
  • ———————–

mu 20170616sma-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 30.49 is in an uptrend.
  • The 9 period Simple Moving Average (sma9) at 31.26 is in an uptrend.
  • The 20 period Simple Moving Average (sma20) at 30.42 is in an uptrend.
  • The 50 period Simple Moving Average (sma50) at 28.85 is in an uptrend.
  • The 100 period Simple Moving Average (sma100) at 27.09 is in an uptrend.
  • The 200 period Simple Moving Average (sma200) at 23.02 is in an uptrend.
  • The 400 period Simple Moving Average (sma400) at 17.76 is in an uptrend.
  • ———————–

mu 20170616w

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 (6/16/2017) close at $29.86

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 26.37. Traders with remaining long positions, after profit taking, should consider placing capital conserving stops in the region of $26.36. Be prepared for a potential short term price pull back to the $26.45 area.

  • Suggested placement of capital conserving stops:
  • If Long, exit all contracts at: $24.81
  • 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 (6/19/2017 – 6/23/2017):

  • Note (2.a.2): prices are vulnerable to a correction towards 22.05.
  • The upper projected target is: $33.18
  • The lower projected target is: $27.23
  • The projected closing price is: $30.21
  • Note: the above WEEKLY chart price projection ranges are for reference only, and can be easily exceeded by Mr. & Ms. Fickle Markets.
  • ———————–

mu 20170616sma-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 30.56 is in an uptrend.
  • The 9 period Simple Moving Average (sma9) at 29.04 is in an uptrend.
  • The 20 period Simple Moving Average (sma20) at 27.29 is in an uptrend.
  • The 50 period Simple Moving Average (sma50) at 21.69 is in an uptrend.
  • The 100 period Simple Moving Average (sma100) at 17.66 is in an uptrend.
  • The 200 period Simple Moving Average (sma200) at 22.10 is in an uptrend.
  • The 400 period Simple Moving Average (sma400) at 15.19 is in an uptrend.
  • ———————–

mu 20170616m

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 (6/16/2017) close at $29.86

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 $24.14 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 (6/1/2017 – 6/30/2017):

  • Note (3.b.1): prices are vulnerable to a correction towards 20.99.
  • The upper projected target is: $37.82
  • The lower projected target is: $22.72
  • The projected closing price is: $30.27
  • 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.

—  Monday, 6/19/2017   thru    Friday 6/23/2017  ——

 

  Hope the above MICRON TECH ORD (MU.O) calculations for Monday, 6/19/2017, day, week, and month,  helps your investing and trading planning today …

 

 

 

 

 

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