MU could be headed to test support

25 lug 2018

MU seems to have broken down a bit and is heading towards support levels. I personally think once it finds a bottom price will rally back up very quickly. P/E is WAY too low on this thing and most analysts have $100+ price targets... implying over 100% gain possible from here.

2 ago 2018

Nota

Watching this one very closely now. We appear to have hit support. I personally bought in half yesterday, half today and am riding a big position with a stop at $51

7 ago 2018

Nota

Got very close to getting stopped out today, but I still think we are testing support. VIX is nearing a a very low point and that's important to take into consideration with these tech plays, it implies there could soon be a dip in the market. p/e is very low here on MU at this price so hopefully if something does happen, from a market-wide standpoint, it won't hurt MU too much. I still have an unreasonable amount of faith in this stock/setup, but I'm trying my best to keep emotions and sentiment out of my judgement. Basically just sitting here eating popcorn waiting to see if I get stopped out.

9 ago 2018

Nota

MU saw a nice rally today during the last hour or so of trading. Lots of big orders came in. Also cool to note, of all the options purchased, nearly 70% of them were calls, mostly $80 sep. Lots of open interest.

14 ago 2018

Nota

I really don't like the way these last two candles look. Trading now below the support zone I tried to identify. I'd expect a pullback to the 200day MA before we get some real action. Volume has been steadily decreasing since May, so that means sell pressure is drying up. Average analyst price targets on this are 40%+ above curernt trading price, so once this takes off I expect to see some 5%+ days in the forcast. Buyers are just waiting for the right entry.