Short term EMA cross and reversal to move back into the $28-30 price range. A hold above $28 in the next session may provide the opportunity for a butterfly or iron condor with short term expiry
W pattern formation and breakout very good chance. Good probability of testing $31. Less likely to break it, but still likely to go up to 32.25.
MU has an intrinsic value of over $40 based on discounted cash flow assuming 5 year growth of 11.23 % and 15 year terminal growth of 4% with a discount rate of 11%
Micron will be in trend reversal if it closes above 28.8 today and 28.7 tomorrow (22nd April). A good entry point to go long. The close by 50 day MA will be the next resistance seen. Set a short stop to start with as there could always be volatility with MU, especially with the earnings season challenging the Indices.
M&A rumors, a crazily low valuation and the...
MU- obvios down trend after breaking the support of the trend line showing that still have power to fall.
plus the cross of EMA 20 under the EMA 200 gives us the bearish signal we needed to get in to short position.
sell stop below the the red reversal - 28.84
stop loss on top of the high - 29.99
first target - 26.50
If MU gaps up, it is a perfect gap n go. If it gaps down, it will be a retest gap. To learn to trade these strategies for free, go to www.RealLifeTrading.com
Relatively oversold, Beta is 1.48 so as the S&P goes so should MU. Earnings at the close should beat. Recent price target increases. Becoming huge in DDRM
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