When Micron Technology (MU) Moves Investors should Listen
October 06, 2022, 22:00 pm ET, BY Quentin W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
How do we know what is going on #behindthescenes of a company? According to Stock Traders Daily, a 20-year #financialindustry innovator, the best way to do this to to watch the price action in the stock. The Micron Technology (NYSE: MU) report below is a real world example. Included are trading plans for MU, but this report is static. If you want an update, or a different stock, please get one here Unlimited Real Time Reports.
Longer Term Trading Plans for MU
- Buy MU slightly over 46.96 target 57.77 stop loss @ 46.82 Details
The technical summary data tells us to buy MU near 46.96 with an upside target of 57.77. This data also tells us to set a stop loss @ 46.82 to protect against excessive loss in case the stock begins to move against the trade. 46.96 is the first level of support below 54.62 , and by rule, any test of support is a buy signal. In this case, support 46.96 would be being tested, so a buy signal would exist.
- Short MU slightly under 57.77, target 46.96, stop loss @ 57.94 Details
The technical summary data is suggesting a short of MU as it gets near 57.77 with a downside target of 46.96. We should have a stop loss in place at 57.94though. 57.77 is the first level of resistance above 54.62, and by rule, any test of resistance is a short signal. In this case, if resistance 57.77 is being tested, so a short signal would exist.
Swing Trading Plans for MU
- Buy MU slightly over 57.77, target 70.13, Stop Loss @ 57.6 Details
If 57.77 begins to break higher, the technical summary data tells us to buy MU just slightly over 57.77, with an upside target of 70.13. The data also tells us to set a stop loss @ 57.6 in case the stock turns against the trade. 57.77 is the first level of resistance above 54.62, and by rule, any break above resistance is a buy signal. In this case, 57.77, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short MU slightly near 57.77, target 53.63, Stop Loss @ 57.94. Details
The technical summary data is suggesting a short of MU if it tests 57.77 with a downside target of 53.63. We should have a stop loss in place at 57.94 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 57.77, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Day Trading Plans for MU
- Buy MU slightly over 54.82, target 57.77, Stop Loss @ 54.69 Details
If 54.82 begins to break higher, the technical summary data tells us to buy MU just slightly over 54.82, with an upside target of 57.77. The data also tells us to set a stop loss @ 54.69 in case the stock turns against the trade. 54.82 is the first level of resistance above 54.62, and by rule, any break above resistance is a buy signal. In this case, 54.82, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short MU slightly near 54.82, target 53.63, Stop Loss @ 54.95. Details
The technical summary data is suggesting a short of MU if it tests 54.82 with a downside target of 53.63. We should have a stop loss in place at 54.95 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 54.82, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
MU Ratings for October 06:
Term → | Near |
Mid |
Long |
Rating |
Strong |
Weak |
Weak |
P1 |
0 |
0 |
46.96 |
P2 |
52.90 |
50.14 |
57.77 |
P3 |
54.82 |
53.63 |
70.13 |
⚠Triggers may have already come
Support and Resistance Plot Chart for MU
Blue = Current Price
Red= Resistance
Green = Support
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