Thursday, 7 December 2017

MU - a third day higher

Whilst the main market saw moderate gains, there was very significant strength in Micron Technology (MU) which settled higher for a third day, +3.9% at $43.20. The Monday low of $39.07 is now an increasingly secure floor. First soft target is the psy' level of $50. M/t bullish to $100.

MU daily

MU monthly


Suffice to add, with an FPE in the 6s (or even 5s, depending on how you calculate it), the stock remains ludicrously priced on the low side. It is no stretch to see $100 by late 2018.

Next earnings are due Tuesday, Dec'19th in AH. I expect good numbers, and the $50 threshold is viable before the Christmas break.