Tuesday, 30 May 2017

MU - breaking up and away

Whilst the main market saw a day of subdued weak chop, there was notable strength in Micron Technology (MU), which settled +3.2% at $30.71. There is a clear break out of the consolidation range, with the $35/36s due as early as July.

MU, daily

MU, monthly


Suffice to add... recent earnings were superb.

Further upside to $35/36 looks a given. Any closes in the $37s would be hyper-bullish, and offer 45/50 by spring 2018.

I am extremely bullish MU. Alternatives... INTC, QCOM, NVDA, and AMD.