Micron is around $734 now. It had a big bullish day yesterday, and it looks like the bottom is in.
You can go long at the current price, with a target around $855 and a stop-loss at $645.
Add to your position around $690 in case it retests the lows.
Like Sandisk, nothing has really gone wrong with Micron itself; it’s sentiment and valuation that are being hit. Bank of America maintained its Buy rating yesterday. Micron also approved a $35.1 billion buyback in October, which could begin as early as December 9. These are all positive factors.
CPI comes out at 9:30 tonight. If the data isn’t bad, this rally could continue a bit further. #CPI前瞻，12月利率走向迎关键考验
$MUB
You can go long at the current price, with a target around $855 and a stop-loss at $645.
Add to your position around $690 in case it retests the lows.
Like Sandisk, nothing has really gone wrong with Micron itself; it’s sentiment and valuation that are being hit. Bank of America maintained its Buy rating yesterday. Micron also approved a $35.1 billion buyback in October, which could begin as early as December 9. These are all positive factors.
CPI comes out at 9:30 tonight. If the data isn’t bad, this rally could continue a bit further. #CPI前瞻，12月利率走向迎关键考验
$MUB
