AMD, MU - strength in semi-conductors

Whilst the main market saw a day of minor chop, there was notable strength in tech, with Advanced Micro Devices (AMD) and Micron Technology (MU), both settling higher by 2.9%. The mid term outlook for both is extremely bullish, and both are valid takeover targets.


AMD, daily

MU, daily

Summary

AMD: has struggled, not least after it was downgraded by GS. Short term.. there is resistance into the mid $13s. Today's daily candle was spiky from resistance at the $13.00 threshold. Mid term outlook is bullish to at least $20.00, and I'm highly inclined to believe AMD is a prime takeover target for AAPL.

MU: Micron has already proven itself with its most recent earnings. Valuation is low, with a forward PE of a bizarrely low 6. Basic short term upside target is $35/36. Any price action >$37 will offer 45/50.. whether by year end, or spring 2018, it should make little difference to those long.
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yours Bullish tech.