Micron (MU)... Your GetOut of Semi Conductor Jail Card ?
MU has suffered on recent tech sector weakness.
If you believe this will reverse them MU may be your horse.
1. The price has retreated nearly .382 % from the Aug 2020 to April 2021 range.
2. There is a Harmonic Butterfly setup forming as well as an ABCD pattern.
3. Margins should expand for the company due to the under supplied DRAM market
4 MU's earning period ends this month and they report at the end of June.
5. Harmonic Butterfly patterns may extend as much as1.618% which is marked as the bottom of the reversal zone.
I would not be in a hurry to jump on this trade,
Pay attention to the broad markets especially the TECH sector sentiment.
Let it get a head of stream which is why my entry is above current levels
AS always D(o)Y(our)O(wn)D(ue)D(iligence)
S.
If you believe this will reverse them MU may be your horse.
1. The price has retreated nearly .382 % from the Aug 2020 to April 2021 range.
2. There is a Harmonic Butterfly setup forming as well as an ABCD pattern.
3. Margins should expand for the company due to the under supplied DRAM market
4 MU's earning period ends this month and they report at the end of June.
5. Harmonic Butterfly patterns may extend as much as1.618% which is marked as the bottom of the reversal zone.
I would not be in a hurry to jump on this trade,
Pay attention to the broad markets especially the TECH sector sentiment.
Let it get a head of stream which is why my entry is above current levels
AS always D(o)Y(our)O(wn)D(ue)D(iligence)
S.
Comment:
Quite weak this morning but recovered towards the end of the day
