MICRON Technology Inc. (MU.O) (d-w-m) for Monday (7/24/2017)

 

Looking at the daily numbers from last week’s third Friday of the month options expiry, 7/21/2017, Micron’s first hour of regular hours trading played out as projected … the projected high for Friday was $32.31. The projected low for Friday ‘was’ $31.71. Micron’s low $31.62, was a bearish 9c below the projected low; but, 1c above Micron’s Support (s1): $31.61. Micron’s Pivot point was $31.81 (above the pivot point and Mr. & Ms. Fickle Markets are bullish, below and they are Bearish). Micron didn’t test Friday resistance (r1) $32.21. ** and ** at 10:30 AM ET Micron was at the projected close of $31.86.  From $32.10 at noon time, the trend was sideways and only nominally down. It was clear, in a AMZN, AAPL, GE, MO, MSFT, BAC, … down market, the Bears failed to get expected help from profit taking Bulls and conceded. Why? sentiment changed … (1) options traders couldn’t help but notice unknown Bulls bought a notable number of Micron call options at the 33 strike for Friday 7/28/2017, (2) other traders thought it was a good idea and were jumping on the band wagon, and (3) this made the ‘tv’ news.  In a down market, Micron closed Friday up 1 cent at $32.01.
By the numbers, on a weekly basis, last week Micron opened at $31.67, attained a high of $32.35, a low of 31.40 and closed at $32.01. Micron’s weekly projected high was $32.97 and Micron’s posted high was $0.62 below. Micron’s weekly projected low was $30.77 and Micron’s actual $31.40 low was $0.63 above.

Why, math? Well, because the trading algorithms aren’t going to drop by and post an article, or a comment, as to what they are thinking, planning to do, or actually going to do; that said, the evidence, and the TRUTH, is in the tick by tick, minute by minute, and day by day trades. Anyone doing their own homework, and thinking of influencing, or even changing the projected outcome, needs to know the numbers first, sift thru the evidence and sort out the truth, then the computers can run scenario analysis to see what changes, if any, and what it would cost, to alter the outcome. “They” OWN the game. Period!  So, if we run the calculations, and share our hard work … we can win too.

 

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, (7/21/2017)     $32.01 +0.01 (0.03%)
  • After Hours: $32.02 +0.01 (0.03%)
  • EPS(ttm):  $2.17             P/E(ttm):  14.75
  • 52 Week High: $32.96      52 Week Low: $13.015
  • Index: NASDAQ 100® S&P 500®

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 0.69%, and has ranged from a low of 31.26 to a high of 32.350. The MACD is not in an Overbought/Oversold range. There have been no divergence signals within the last 5 trading days.
MACD Value: 0.336        Signal Line: 0.264

Friday’s (7/21/2017) Relative Strength Index (RSI) for MU was 57.4979 up nominally from last Friday’s 56.321.   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, 12 trading days ago, at 30.51 (up $1.50) Indicator (b) was even more bullish. Indicator (b) suggested closing out any open short positions and going long on July 7th, 10 trading days ago, at 30.20 (up $1.81) 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:

mu 20170721d

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 (7/21/2017) close at: $32.01
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 $30.51. Traders with remaining long positions, after profit taking, should consider placing capital conserving stops in the region of $29.75. Be prepared for a potential short term price pull back to the $31.42 area.

  • Suggested placement of capital conserving stops:
  •  If Long, exit all contracts at: $28.56
  •  If Short, exit all contracts at: $32.35

(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: $34.16
  • The lower projected target is: $29.96
  • The projected closing price is: $32.06
  • Note: the above DAILY chart price projection ranges are for reference only, and can be easily exceeded by Mr. & Ms. Fickle Markets.
  • ———————–

mu 20170721sma-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 31.94 is in an uptrend.
  • The 9 period Simple Moving Average (sma9) at 31.69 is in an uptrend.
  • The 20 period Simple Moving Average (sma20) at 31.26 is in an uptrend.
  • The 50 period Simple Moving Average (sma50) at 30.59 is in an uptrend.
  • The 100 period Simple Moving Average (sma100) at 28.87 is in an uptrend.
  • The 200 period Simple Moving Average (sma200) at 24.71 is in an uptrend.
  • The 400 period Simple Moving Average (sma400) at 18.73 is in an uptrend.
  • ———————–

mu 20170721w

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 (7/21/2017) close at: $32.01
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 $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 $27.77 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 (7/24/2017 – 7/28/2017):

Note (2.a.2): prices are vulnerable to a correction towards 22.05.

  • The upper projected target is: $35.58
  • The lower projected target is: $29.14
  • The projected closing price is: $32.36
  • Note: the above WEEKLY chart price projection ranges are for reference only, and can be easily exceeded by Mr. & Ms. Fickle Markets.
  • ———————–

mu 20170721sma-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 31.33 is in an uptrend.
  • The 9 period Simple Moving Average (sma9) at 30.78 is in an uptrend.
  • The 20 period Simple Moving Average (sma20) at 29.03 is in an uptrend.
  • The 50 period Simple Moving Average (sma50) at 23.46 is in an uptrend.
  • The 100 period Simple Moving Average (sma100) at 18.35 is in an uptrend.
  • The 200 period Simple Moving Average (sma200) at 22.50 is in an uptrend.
  • The 400 period Simple Moving Average (sma400) at 15.49 is in an uptrend.
  • ———————–

mu 20170721m

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 (7/21/2017) close at: $32.01
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 25.28 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 21.61.

  • The upper projected target is: $39.96
  • The lower projected target is: $24.87
  • The projected closing price is: $32.42
  • 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, 7/24/2017, day, week, and month of July 2017,  helps your investing and trading planning today …

 

 

 

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