MICRON Technology Inc. (MU.O) (d-w-m) for Monday (7/3/2017)

Friday’s Micron trading looks like a convergence of multiple scenarios starting first with the MW article blunder about Micron’s Thursday night Earnings and Conference Call that the computer algorithims couldn’t help themselves because once the MW article was published, computers were prompted to take profits and sell, sell sell …   MW posting article corrections was no help … the damage was already done.   In the last seven years of Fed stress testing Banks, this is the first time they all passed, and banks get the okay to return capital to shareholders, leading to sector rotation from the Technology sector to the Financials.  Plus the last week of June is always subject to increased volatility due to Funds “window dressing”, and monthly options expiry … et cetera.
I doubt Micron was thinking there’d be a pull back in Micron’s pps.  Micron accounced:

  • Compute and Networking
  • Revenue from Cloud customers 4 times higher Y/Y
  • Increased Enterprise demand from analytics workloads
  • Successfully ramped GDDR5X to high-volume production
  • Mobile
  • Planning to introduce nearly 20 new 1x designs in next 12 months
  • Developing MCP and discrete NAND to address full range of smartphones 
  • Sampling 32-layer 3D NAND MCP and discrete eUFS and eMMC devices
  • Embedded
  • Record quarterly revenue in Auto, Consumer/Connected Home & Industrial 
  • Maintaining market share leadership position in Automotive 
  • Ongoing transition of non-automotive DRAM portfolio to 20nm designs
  • Storage
  • Record revenue driven by >30% Q/Q growth in SSDs
  • Sales to Cloud and Enterprise customers exceeded Client sales in SSDs 
  • OEM and Hyperscale customer qualifications underway for SATA drives
  •    see:   Micron Q3’2017 Earnings Report

Every time you introduce a new design … you have to take machines out of whatever they were producing, start producing the new design, and then the new design has to be submitted to and qualified by customers.  That customer qualification is usually subject to where the customer is in their own product life cycle so a new design ‘win’ may take time.  Clearly, these new 1x designs will lead to cost savings for Micron … and perhaps cost savings for Micron’s customers.  However, in the short term, Micron will be reducing supply of whatever the machines were producing … so, hopefully, inventories show a build to bridge the gap between submitting new products for customer qualifications and getting design wins and orders for the new designs.

I do not know if Micron was thinking of using any pullback in Micron’s pps due to the Q3’2017 ER occurring 1 day before monthly options expiry and before a July 4th holiday but Micron has the CASH to take advantage of any opportunity.

The analysis review below is a Bull/Bear, PROs, and CONs, buyholdsellshort chart analysis with the same capital conserving cautionary and pull back suggestions I have learned to appreciate and use to manage my investments with the RISK Reward Ratio. I want to know the good, the bad, and the ugly, because it’s my money. I hope sharing my homework helps you with yours.

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

from Friday, 6/30/2017     $29.86 -1.61 (-5.12%)
EPS(ttm):  $2.17             P/E(ttm):  13.76
52 Week High: $32.93      52 Week Low: $11.50

Currently the Moving Average Convergence Divergence (MACD) for MICRON Technology Inc. (MU.O) is bearish since it is trading below its signal line. The MACD crossed below its signal line 3 trading days ago. Since the MACD crossed below its moving average, MICRON TECH ORD’s price has decreased 5.69 percent, and has ranged from a low of 29.709 to a high of 32.665. The MACD is not in an Overbought/Oversold range. There have been no divergence signals within the last 5 trading days.
MACD Value: 0.422                      Signal Line: 0.599

 

Friday’s (6/30/2017) Relative Strength Index (RSI) for MU was 44.3851.   The RSI calculations are based on the Close over a 14 trading day period.

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

mu 20170630d

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 (6/30/2017) 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 $29.71. Traders with remaining long positions, after profit taking, should consider placing capital conserving stops in the region of $29.71.  Be prepared for a potential short term price rally back to the $31.12 area.

  • Suggested placement of capital conserving stops:
  • If Long, exit all contracts at: $29.21
  • If Short, exit all contracts at: $32.96

(1.a) Additional DAILY chart info:

  • Overall, the bias in prices is: Upwards.
  • Short term: Prices are stalling.
  • Intermediate term: Prices are trending.

(1.b) DAILY chart price projection ranges (7/3/2017 – 7/7/2017):

  • The upper projected target is: $31.98
  • The lower projected target is: $27.81
  • The projected closing price is: $29.90
  • Note: the above DAILY chart price projection ranges are for reference only, and can be easily exceeded by Mr. & Ms. Fickle Markets.
  • ———————–

mu 20170630sma-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 31.19 is in an uptrend.
  • The 9 period Simple Moving Average (sma9) at 31.58 is in an uptrend.
  • The 20 period Simple Moving Average (sma20) at 31.40 is in an uptrend.
  • The 50 period Simple Moving Average (sma50) at 29.67 is in an uptrend.
  • The 100 period Simple Moving Average (sma100) at 27.82 is in an uptrend.
  • The 200 period Simple Moving Average (sma200) at 23.75 is in an uptrend.
  • The 400 period Simple Moving Average (sma400) at 18.16 is in an uptrend.
  • ———————–

mu 20170630w

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 (6/30/2017) 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 $26.96. 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 $27.06 area.

  • Suggested placement of capital conserving stops:
  • If Long, exit all contracts at: $25.43
  • If Short, exit all contracts at: $32.96

(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 (7/3/2017 – 7/14/2017):

  • Note (2.a.2): prices are vulnerable to a correction towards 22.05.
  • The upper projected target is: $33.38
  • The lower projected target is: $27.01
  • The projected closing price is: $30.19
  • Note: the above WEEKLY chart price projection ranges are for reference only, and can be easily exceeded by Mr. & Ms. Fickle Markets.
  • ———————–

mu 20170630sma-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 30.48 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 27.93 is in an uptrend.
  • The 50 period Simple Moving Average (sma50) at 22.40 is in an uptrend.
  • The 100 period Simple Moving Average (sma100) at 17.91 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 15.31 is in an uptrend.
  • ———————–

mu 20170630m

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 (6/30/2017) 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: $32.96

(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 (7/3/2017 – 7/31/2017):

  • 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, 7/3/2017   thru   Monday 7/31/2017  ——

 

  Hope the above MICRON TECH ORD (MU.O) calculations for Monday, 7/3/2017, day, week, and month,  helps your investing and trading planning today …

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