Learn to Evaluate Micron Technology ($MU) using the Charts
August 31, 2023, 09:30 am ET, BY William C.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for MU
- Buy MU slightly over 67.13 target 73.15 stop loss @ 66.94 Details
The technical summary data tells us to buy MU near 67.13 with an upside target of 73.15. This data also tells us to set a stop loss @ 66.94 to protect against excessive loss in case the stock begins to move against the trade. 67.13 is the first level of support below 68 , and by rule, any test of support is a buy signal. In this case, support 67.13 is being tested, a buy signal would exist.
- Short MU slightly under 73.15, target 67.13, stop loss @ 73.36 Details
The technical summary data is suggesting a short of MU as it gets near 73.15 with a downside target of 67.13. We should have a stop loss in place at 73.36though. 73.15 is the first level of resistance above 68, and by rule, any test of resistance is a short signal. In this case, if resistance 73.15 is being tested, a short signal would exist.
Swing Trading Plans for MU
- Buy MU slightly over 73.15, target n/a, Stop Loss @ 72.94 Details
If 73.15 begins to break higher, the technical summary data tells us to buy MU just slightly over 73.15, with an upside target of n/a. The data also tells us to set a stop loss @ 72.94 in case the stock turns against the trade. 73.15 is the first level of resistance above 68, and by rule, any break above resistance is a buy signal. In this case, 73.15, 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 73.15, target 67.13, Stop Loss @ 73.36. Details
The technical summary data is suggesting a short of MU if it tests 73.15 with a downside target of 67.13. We should have a stop loss in place at 73.36 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, 73.15, 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 68.05, target 73.15, Stop Loss @ 67.89 Details
If 68.05 begins to break higher, the technical summary data tells us to buy MU just slightly over 68.05, with an upside target of 73.15. The data also tells us to set a stop loss @ 67.89 in case the stock turns against the trade. 68.05 is the first level of resistance above 68, and by rule, any break above resistance is a buy signal. In this case, 68.05, 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 68.05, target 67.13, Stop Loss @ 68.21. Details
The technical summary data is suggesting a short of MU if it tests 68.05 with a downside target of 67.13. We should have a stop loss in place at 68.21 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, 68.05, 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.
This is a snapshot. Real Time Updates are available on our MU Page.
MU Ratings for August 31:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Strong |
Weak |
Strong |
| P1 |
0 |
0 |
61.76 |
| P2 |
66.05 |
63.63 |
67.13 |
| P3 |
68.05 |
66.86 |
73.15 |
Support and Resistance Plot Chart for MU
Blue = Current Price
Red= Resistance
Green = Support
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When #institutionalinvestors make decisions to buy and sell #stocks they normally want to keep it quiet. However, if we pay close attention we can see what is going on, and make good decisions.. The Micron Technology (NYSE: MU) report below can help you understand how to do this. The trading plans for MU, are updated in real time for subscribers, but this report is static. If you want an update, or a different report on a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for MU:
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