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Micron Technology, Inc. Message Board

  • highlowsel highlowsel Aug 15, 2013 7:43 AM Flag

    PM $14.52

    Small print stuff again hitting the bid, and only 2.5K in volume so far. But should it hold then clearly the market is pushing to $14.50, the former resistance line. If you pull up a 10 day 10 minute chart and then draw an uptrend line off the bottom of the Aug 5 pop/gap at $13.47 you'll see that trend line sits, today, at ~$14.20. If today is a concerted attempt by the sell side to drive the bid back down that's the line I expect to see tested. So...if $14.50 fails go short for a cover at the trend line (or 10 pennies - heh); else if $14.50 holds go long. Those are (my) set-ups. Let's see how the market plays it...

    American Net'Zen

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    • good guess on the $14.20 test

      • 1 Reply to f40forever
      • f40: Yah....really...definitely a good guess. ;-) Going back to my earlier commentary about the uptrend line off the Aug $13.47's almost amazing to see the bid get yanked straight to that line, break and bounce off it....for now. If I didn't know better I'd say the market is using the same metrics as me. Heh! Anyway...watching at this's well oversold and might be setting up to bounce. But the overall market is #$%$ today so it might be a better day to just sit, under-trade and just watch...

        Bid now $14.33.

    • $14.17...a bit more of a negative reaction than I thought but I'd done my set-up now setting my short stop ($14.48 entry) at just north of $14.30

    • Intel and Micron downgraded to Neutral from Outperform at RW Baird
      Following an Asian field trip, Baird expects second half semiconductor orders to be below seasonal. The firm now expects total PC units to decline in the teens, notes weaker Q3 DRAM expectations than the supply chain expected just 1-2 months ago, sees analog IC inventories rising at distributors, and continued smartphone weakness. As a result, the firm downgraded Intel (INTC) and Micron (MU) to Neutral from Buy, reduced Intel's price target to $23 from $26, and maintained Micron's price target of $17.

15.56-0.02(-0.13%)Nov 27 1:00 PMEST