MICRON Technology Inc. (MU.O) (d-w-m) for Monday (7/17/2017)

 

Thought for Monday:  It is not the Bears, or the Bulls, that make us lose money in the US or global markets.  It’s the bum steers.

Last week, the Daily chart analysis was a Long/Short conflicted, clarification needed, mess. Despite a GREAT Micron Tech Q3’2017 Earnings Report, simply put, there were too many ‘short term’ market and portfolios rebalancing impacts influencing trading in Micron’s shares … and those short term issues are now behind us.
The Daily chart analysis no longer suggests shorting. However, Barrons has jumped on the negative press band wagon with Micron (NASDAQ:MU) ‘is headed for a tumble if the chip bubble bursts.’  IMHO, the current DRAM/NAND demand exceeds supply is NOT a bubble. We are heading into seasonally strong quarters with both ‘back to school’ demand for gadgets, and the gift giving holidays only 5 months ahead.  Any increase in chips supply will come from improving satisfactory yield from wafers, node transitions, … and machines and lines added to available cleanroom space to make up for monthly wafer capacity lost due to additional 3D NAND layers requiring more process steps and taking MORE time to finish a wafer.
China:  As an example, Micron, in its’ Q3’2017 Earnings report, advised it would be bringing about 20 new 1x products to market over the next 12 months. The pace of advance in technology is a clear message to those ‘hyping’ China’s tossing millions of dollars to get into the DRAM game a pipe dream. Even if China ‘could’ legitimately acquire the IP, it doesn’t have the thousands, or even hundreds of experienced people it needs, and people learning on the job means China won’t be achieving ‘satisfactory yields’ of the current players. Cheap, or even bargain chips, aren’t much of a bargain if those buying Chinese chips, have to spend a ton of money to figure out which chips work and won’t result in lost sales due to product failures and returns. It’s common sense that even China knows these facts and that’s why China was trying to BUY Micron Tech ‘cheap’ when Micron’s pps pulled back because it was transitioning multiple fabs to 20nm from 35nm DRAM.

 

The Daily, Weekly, Monthly, (d-w-m) Micron Tech chart 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. As I own shares of Micron Tech, I want to know the good, the bad, and the ugly, the buyholdsellshort 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

  • MU.O from Friday, (7/14/2017)     $$31.79 +0.66 (+2.12%)
  • EPS(ttm):  $2.17             P/E(ttm):  14.65
  • 52 Week High: $32.93      52 Week Low: $13.015
  • Index:  NASDAQ 100®   S&P 500®

Currently the Moving Average Convergence Divergence (MACD) for MICRON Technology Inc. (MU.O) has turned bullish since it is trading above its signal line. The MACD crossed above its signal line Friday, or zero trading days ago. Since the MACD crossed above its moving average, MICRON TECH ORD’s price has been unchanged, and has ranged from a low of 31.260 to a high of 31.950. The MACD is not in an Overbought/Oversold range. There have been no divergence signals within the last 5 trading days.
MACD Value: 0.192 (0.19225)        Signal Line: 0.192 (0.19183)

Friday’s (7/14/2017) Relative Strength Index (RSI) for MU was 56.321 up nominally from last Friday’s 47.5406.   The RSI calculations are based on the Close over a 14 trading day period.

  •  Note: Nailed it, two of my Pivot point, usually sellshort, indicators turned Bullish.
  • Indicator (a) suggested going long on July 5th, 7 trading days ago, at 30.51 (up $1.28)
  • Indicator (b) was even more bullish. Indicator (b) suggested closing out any open short positions and going long on July 7th, 5 trading days ago, at 30.20 (up $1.59)
  •  Both Pivot point indicators have a Micron technical ‘capital conserving’ stop at 28.56.
  • Both of these indicators are still suggesting ‘Long’.

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

 

 


djia 20170714d

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 (7/14/2017) close at: $31.79

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 $28.56. Traders with remaining long positions, after profit taking, should consider placing capital conserving stops in the region of $28.56. Be prepared for a potential short term price pull back to the $30.98 area.

  • Suggested placement of capital conserving stops:
  • If Long, exit all contracts at: $28.56
  • 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 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 (7/17/2017 – 7/21/2017):

  • The upper projected target is: $34.00
  • The lower projected target is: $29.73
  • The projected closing price is: $31.87
  • Note: the above DAILY chart price projection ranges are for reference only, and can be easily exceeded by Mr. & Ms. Fickle Markets.
  • ———————–

mu 20170714sma-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 31.46 is in an uptrend.
  • The 9 period Simple Moving Average (sma9) at 30.69 is in an uptrend.
  • The 20 period Simple Moving Average (sma20) at 31.07 is in an uptrend.
  • The 50 period Simple Moving Average (sma50) at 30.25 is in an uptrend.
  • The 100 period Simple Moving Average (sma100) at 28.45 is in an uptrend.
  • The 200 period Simple Moving Average (sma200) at 24.35 is in an uptrend.
  • The 400 period Simple Moving Average (sma400) at 18.51 is in an uptrend.
  • ———————–

mu 20170714w

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 (7/14/2017) close at: $31.79
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 $26.37. Be prepared for a potential short term price pull back to the $27.41 area.

  • Suggested placement of capital conserving stops:
  • If Long, exit all contracts at: $26.36
  • 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 (7/17/2017 – 7/21/2017):

  • Note (2.a.2): prices are vulnerable to a correction towards 22.05.
  • The upper projected target is: $35.37
  • The lower projected target is: $28.93
  • The projected closing price is: $32.15
  • Note: the above WEEKLY chart price projection ranges are for reference only, and can be easily exceeded by Mr. & Ms. Fickle Markets.
  • ———————–

mu 20170714sma-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 30.62 is in an uptrend.
  • The 9 period Simple Moving Average (sma9) at 30.31 is in an uptrend.
  • The 20 period Simple Moving Average (sma20) at 28.70 is in an uptrend.
  • The 50 period Simple Moving Average (sma50) at 23.11 is in an uptrend.
  • The 100 period Simple Moving Average (sma100) at 18.17 is in an uptrend.
  • The 200 period Simple Moving Average (sma200) at 22.42 is in an uptrend.
  • The 400 period Simple Moving Average (sma400) at 15.43 is in an uptrend.
  • ———————–

mu 20170714m

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 (7/14/2017) close at: $31.79
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 16.45. Traders with remaining long positions after profit taking should consider placing capital conserving stops in the region of $13.02. Be prepared for a potential short term price pull back to the $25.24 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 21.59.
  • The upper projected target is: $39.73
  • The lower projected target is: $24.65
  • The projected closing price is: $32.19
  • 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, 7/17/2017, day, week, and month,  helps your investing and trading planning today …

 

 

 

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