Micron Technology (MU) – [ Up Another 10%, Is It Too Late Now? ]

Chart Source: Poemsview 22nd Nov 2021

Micron (MU) saw a nice pop of around 8% on Friday after the chip maker received the selection of “Top Pick” at Evercore ISI! Good job for those who read the blog and took action!

Analyst C.J. Muse of Evercore ISI has high expectations for MU stock. Muse noted that the prices for dynamic random-access memory (DRAM) are likely to bottom out in the first half of 2022. However, since DRAM prices have yet to do so, Muse rationalizes that investors are still hesitant about MU stock. Once the price actually bottoms out, investors will pour money into stocks like Micron in a “fast and furious” manner. For this reason, Muse has set a $100 price target on MU stock, representing a 20% upside from current prices.

So is it too late to get in now? Well, the risk reward to us is not on our side, our upside resistance is around $90 and that’s where we might see some profit taking coming in. For a quick trade we might want to ensure that MU stays above $83 with a tight stop loss of around $82. As we mentioned MU earlier in the Nov, and it has already gone up 20% so for us entering now might not be to our liking! Remember, we like to try to  enter the trade when the Risk Reward is on our side and where there is a higher probability of winning!

We hope you learnt something from our post so far!

Trade safe!

Yours

Humbly

Kelwin&Roy

Micron Technology (MU) – [Up 10%, Following Up From Our Previous Post]

Its been two weeks since we posted on the stock Micron Technology (MU) and ever since then we have seen it moving higher. It has broken above our downtrend line resistance which we drew and started a nice move up. Micron Technology has hit our first upside target of $76 very close to a 10% gain in under two weeks. We’re bullish on our $78 target and might even look at the next upside target of around $82.90. =) Of course, it will take time and not move in a straight line.

Take a look at the chart below for more details.

Chart source: AdvisorXs 16th Nov 2021

We hope you managed to learn something and catch a glimpse of how we analyze the market without complicated indicators and arrows.  Stay tune for our next post!

Yours

Humbly

Kelwin&Roy

Micron Technology (MU) – [Technical Outlook ]

Micron Technology, Inc. is an American producer of computer memory and computer data storage including dynamic random-access memory, flash memory, and USB flash drives.

It has actually beat earnings estimates in sept but share of Micron Tech was down as it failed to impress Wall Street with its outlook. The memory maker reported fiscal fourth-quarter net income of $2.72 billion, which amounts to $2.39 a share, compared with a net profit of $988 million, or 87 cents a share, in the year-ago period.

Micron (MU) said that it expected fiscal first-quarter earnings of roughly $2 a share, on revenue of about $7.65 billion. Analysts have been forecasting earnings of $2.53 and revenue of $8.54 billion. Chip shortage continue to hinder growth and of course led some of the selling.

Technical outlook 

Chart source: : Poems2.0.com

We can see that MU has form a nice little base at around the $65 range and from there start to move up slowly. From the chart, it is currently near the 50ema and also the downtrend line. If MU manages to break above these resistance of around $71, we might see further upside to $76 then $78. Downside support is around $68 then $65.

With the current positive sentiments out there, MU does look like it might have more room to move up.

Keep a close watch on it!

Yours

Humbly

Kelwin&Roy