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Micron Higher in Early Trading

Micron is setting up as a potential candidate, as the company beat industry pundits assumptions once again. Executives highlighted growth despite unfounded fears of a slow down in key segments. MU (+43.36%) year to date.

Micron Conference Call

Micron reported better than expected profit and sales gains last night, EPS (+94% YoY),  adding an upbeat forecast for future demand for memory chips. The potential for higher prices was highlighted in the company’s quarterly conference call. In addition, Micron’s chief financial officer gave shareholders a confident business outlook going forward. Shares reversed from a slight dip to a gain of nearly 4.5% in early trading.

Micron – MarketSmith highlights EPS (+94% YoY)

Note analysts hiked earnings expectations following the report +134% and the number of funds harboring shares is increasing. RS line is gaining at 90. IBD metrics echo our thoughts herein.


Micron MU MarketSmith


Technically speaking, the stock is consolidating in an 8 point range, trading just above support. Money flow is positive, though OBV showed investors took profits off the table into this reporting period.


Micron MU


We are looking to get back into a position, depending on Micron’s price action over the next week. If a ToD Setup triggers, we will consider a day trade. Watch for bullish flow this morning, which would confirm investor sentiment remains positive. Stay tuned.

Marketwatch columnist, Therese Poletti also highlighted the following thoughts we’ve discussed over the past few weeks.

“The forecast was huge because it attacked the biggest shadow hanging over Micron’s surging stock: the constant fear that ongoing strong demand for memory chips will abate. There are a variety of potential reasons that could happen, including the demand for smartphones peaking; sales in China falling with the absence of ZTE, effectively shut down by a U.S. Commerce Department ban, and a Chinese investigation into memory prices; and, scariest of all, that companies are hoarding chips to avoid any price increases and ensure supply amid heightened demand, which would lead to a downfall once demand and supply even out.”

Join us LIVE today at 9:20 AM as we discuss Micron and other potential trades during the trading session. Watch and learn!

Happy Trading,


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