Broke through a triple top...FINALLY! Analyst conference today...Market up big...and 3/4s of the stocks on my watch list are higher % wise....Facebook,twitter,Yahoo,Electronic Arts, Zynga...etc. Apple is higher today % wise. I was hoping for more once we broke out. Overall since earnings Micron has been pretty disappointing.Maybe Im just complaining too much....But come on! Its underperforming today and the last 30 days.
Apparently few if any here understand what a TRIPLE TOP BREAKOUT is suppose to mean...This week may in fact show Micron higher but when a stock FINALLY pushes through resistance after 3 failed attempts, it typically responds to MUCH HIGHER PRICES. It does NOT LAG other investments over the next few days. Its suppose to be a rocket ship upwards. MICRON HAS NOT rocketed to new highs. Its LAGGED many stocks since this event occurred. On top of the chart breakout the entire market has been up big AND Micron had a major analyst conference which should have added even more rocket fuel. Its not suppose to consolidate nor are you suppose to go back in time to search for those monster gains. I simply pointed out this didn't happen and was a bit frustrating. I didn't understand that most here have no clue technically what a TRIPLE TOP BREAKOUT through resistance means. So while all of you keep posting "its up blah blah blah" and wondering why I posted in the first place it again was simply to point out that TECHNICALLY, it should be rocketing past or towards $25...Maybe it will this week.
Have a little patience. I agree with you that it will be going higher. Again, reflect on the chart for the past year. It has "triple topped" before (last spring, and last summer) and then it shoots up, but not before we get past the half way point to the next earnings report (which is early April). We are entering that area in the next couple of weeks from which I see it going higher. One important point is that it held up very well while the market was down in January. It had a very narrow trading range which I consider very positive considering its past volatility, and the outstanding run-up last year. So I am interpreting the past few weeks as one of consolidation/accumulation, from which it will behave on schedule. If you look at a 3 month chart, you won't see it. If you look at a one year chart, it is quite evident presuming that the numbers they report are close to what Fischer has been suggesting. And he has been on target for the last year.
Let me get this straight. You are complaining because Micron is lagging the tech market? Micron is up 7% in the past 3 trading days. It is up 200% in the past 12 months. Have you ever heard that stocks go up prior to "expected" good news? A bit of consolidation is healthy.