When Micron Technology (MU) Moves Investors should Listen

June 18, 2022, 10:00 amET, BYMitchell H.-Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for MU

• NONE. Details

There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.
This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.

• Short MU under 67.48, target n/a, stop loss @ 67.67 Details

The technical summary data is suggesting a short of MU as it gets near 67.48, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 67.67. 67.48 is the first level of resistance above 55.75, and by rule, any test of resistance is a short signal. In this case, if resistance 67.48 is being tested, so a short signal would exist.

Swing Trading Plans for MU

• Buy MU over 59.68, target 67.48, Stop Loss @ 59.51 Details

If 59.68 begins to break higher, the technical summary data tells us to buy MU just over 59.68, with an upside target of 67.48. The data also tells us to set a stop loss @ 59.51 in case the stock turns against the trade. 59.68 is the first level of resistance above 55.75, and by rule, any break above resistance is a buy signal. In this case, 59.68, 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 near 59.68, target 53.65, Stop Loss @ 59.85. Details

The technical summary data is suggesting a short of MU if it tests 59.68 with a downside target of 53.65. We should have a stop loss in place at 59.85 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, 59.68, 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 over 55.86, target 59.68, Stop Loss @ 55.73 Details

If 55.86 begins to break higher, the technical summary data tells us to buy MU just over 55.86, with an upside target of 59.68. The data also tells us to set a stop loss @ 55.73 in case the stock turns against the trade. 55.86 is the first level of resistance above 55.75, and by rule, any break above resistance is a buy signal. In this case, 55.86, 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 near 55.86, target 53.65, Stop Loss @ 55.99. Details

The technical summary data is suggesting a short of MU if it tests 55.86 with a downside target of 53.65. We should have a stop loss in place at 55.99 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, 55.86, 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 Technical Summary | Raw Data for the Trading Plans

Term →	Near	Mid	Long
Bias	Weak	Weak	Neutral
P1	0	0	67.48
P2	52.73	53.65	78.52
P3	55.86	59.68	90.75

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.