MU Jun 2020 65.000 call

OPR - OPR Delayed Price. Currency in USD
1.7100
-0.0600 (-3.39%)
At close: 3:23PM EST
Stock chart is not supported by your current browser
Previous Close1.7700
Open1.7300
Bid1.6600
Ask1.7400
Strike65.00
Expire Date2020-06-19
Day's Range1.6700 - 1.8400
Contract RangeN/A
Volume71
Open Interest3.26k
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    A tentative agreement between the U.S. and China, as well as a predictable Fed has investors feeling good as they bid up stocks. Let's look at a few top stock trades for Friday. Top Stock Trades for Tomorrow No. 1: Broadcom (AVGO)Source: Chart courtesy of StockCharts.comWe were looking for a breakout in Broadcom (NASDAQ:AVGO) stock, but doing so in the same session ahead of earnings is risky. Shares rocketed through its prior highs and resistance, ripping to a high of around $330. Now what? Should shares pull back after reporting earnings, I would love to see prior resistance hold as support near $320. Should it fail, bulls will still be okay as long as AVGO can find support above $314. InvestorPlace - Stock Market News, Stock Advice & Trading TipsThere it has the rising 20-day moving average, as well as prior April and May resistance near $315. Below this area could bring up a test of the $300 level. * The 10 Worst Dividend Stocks of the Decade On the upside, it's hard to say where AVGO could rally to on a bullish earnings reaction -- the analysts certainly are bullish. Currently, there is a Fibonacci extension up at $349.65 based on the prior 52-week range. But most importantly, see that AVGO holds the breakout level or prior support at this point. Top Stock Trades for Tomorrow No. 2: Micron (MU)Source: Chart courtesy of StockCharts.com Micron (NASDAQ:MU) shares made a beautiful breakout on Wednesday and followed it with even more upside on Thursday. Investors will now want to see if shares can clear the $51 level and continue higher. Remember, Micron was trading north of $60 per share in 2018 and if it can regain momentum, a push higher certainly isn't out of the question. On a pullback, $48 and the prior downtrend (blue line) will need to hold as support. Top Stock Trades for Tomorrow No. 3: Advanced Micro Devices (AMD)Source: Chart courtesy of StockCharts.comTalk about a loaded top three picks, huh? Chips have been on fire, so it should come as little surprise that Advanced Micro Devices (NASDAQ:AMD) is working on the long side again. After hitting $41.79 last month, shares of AMD have cooled. However, the 20-day moving average continued to buoy the stock and on Thursday, shares broke out over downtrend resistance (blue line). Now, let's see if the stock can breakout over its prior highs. The stock failed at $41.75 in back-to-back sessions in November. A move over this mark could trigger a rally into the mid-$40s and possibly higher. On a pullback, see that the 20-day moving average continues to hold as support. Top Stock Trades for Tomorrow No. 4: Activision Blizzard (ATVI)Source: Chart courtesy of StockCharts.com It doesn't get much simpler for Activision Blizzard (NASDAQ:ATVI). With Thursday's move over $57, the stock is officially breaking out. I would consider the $56 to $57 area as the must-hold mark, but some bulls may be more specific and require ATVI stock to stay over the September high of $57.52. Either way, shares are breaking out and as long as prior resistance holds as support on a pullback, the bulls are okay on the long side. With the move now, bulls will look to fill the stock's November 2018 gap down. To do so completely will require a rally to $62.35. Top Stock Trades for Tomorrow No. 5: Ciena (CIEN)Source: Chart courtesy of StockCharts.comCiena (NYSE:CIEN) shares are rocketing higher, up almost 20% after reporting earnings. The move thrust shares over all of its major moving averages, as well as downtrend resistance (blue line). The rally also sent CIEN stock up through the $40 to $41 area, which has been significant over the past year. Now, see that it stays above this zone. In the middle of it -- at $40.66 -- is the 61.8% retracement. Below that and the 200-day moving average will be on the table. On the upside, see if Ciena stock can rally to the 78.6% retracement. Above puts range resistance near $45 to $46 in the cards. Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long AVGO. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * The 10 Worst Dividend Stocks of the Decade * 7 Game-Changing Tech Stocks to Buy Now * 5 Chinese Stocks to Buy for the Big 2020 Rebound The post 5 Top Stock Trades for Friday: AVGO, MU, AMD appeared first on InvestorPlace.

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DRAM is also more profitable for MU than NAND. Micron's Strong Products Will Likely Propel MU Stock HigherAccording to recent research by Rachel Rice at the University of Nebraska at Omaha, "Micron has continuously been on the cutting edge of development. [But] the biggest problem in the industry currently is the level of competitiveness… and the nature of the product[s] lead to price competition."Given those dynamics, Wall Street closely follows DRAM and NAND prices as well as their demand and supply levels.When DRAM prices increase, Micron raises its DRAM output to exploit the high prices. Higher supply eventually leads to falling prices and declining revenues.In 2019, there have been signs that the downturn of the memory chip market is beginning to ease. These signs have contributed to the rally of MU stock.During MU's Q4 conference call, its management said that in fiscal 2020, MU would be spending less on DRAM and NAND supply increases. As customers' inventories go down, prices should also stay stable. Thus in a few quarters, MU's earnings will likely improve.Semiconductors like Micron play a major role in the global economy And despite recent economic and memory price challenges, Wall Street is bullish on global demand for memory products.Demand for memory is climbing thanks to the increased use of smart devices, the proliferation of of data centers, and the deployment of new technologies such as the IoT (Internet of Things) and 5G (fifth-generation) wireless.This demand growth will likely benefit the owners of MU stock for many years. The Short-Term Headwinds Facing Micron StockHowever, there are two main issues that may derail MU's revenue growth and Micron stock price.The Trade War: Micron has been one of the most front-and-center companies in the U.S.-China trade war. MU has many China-based customers, including the controversial firm Huawei. 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