Micron (MU) Offering Possible 28.21% Return Over the Next 24 Calendar Days

Micron's most recent trend suggests a bullish bias. One trading opportunity on Micron is a Bull Put Spread using a strike $43.00 short put and a strike $38.00 long put offers a potential 28.21% return on risk over the next 24 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $43.00 by expiration. The full premium credit of $1.10 would be kept by the premium seller. The risk of $3.90 would be incurred if the stock dropped below the $38.00 long put strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for Micron is bullish and the probability of a rise in share price is higher if the stock starts trending.

The 20-day moving average is moving up which suggests that the medium-term momentum for Micron is bullish.

The RSI indicator is at 29.42 level which suggests that the stock is neither overbought nor oversold at this time.

To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here

LATEST NEWS for Micron

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As new iPhones go on sale, studies reveal chips from Intel and Toshiba
Sat, 22 Sep 2018 04:25:01 +0000
Apple Inc's latest iPhones hit stores around the world on Friday, featuring components made by Intel Corp and Toshiba among others, according to two firms that cracked open the iPhone Xs and Xs Max models. The studies by repair firm iFixit and chip analysis firm TechInsights, published this week, are among the first detailed teardowns of the phones, which reviews suggested were a subtle upgrade from the tenth anniversary iPhone X. Supplying parts for Apple's iPhones is considered a coup for chipmakers and other manufacturers.

Micron Shares Slide as Analysts Slash Estimates
Fri, 21 Sep 2018 22:19:00 +0000
closed on Friday down 2.9% to $44.74 after the chip giant tempered forward guidance despite a quarterly earnings beat. MU fell as much as 4.9% in Friday's trading and had been down some 7% in after-hours trading Thursday evening after the firm guided the current quarter's earnings to $2.88 to $3.02 per share vs. the $3.08 that analysts had been expecting. The drop in the share price comes as analysts are almost universally tempering their own earnings estimates for the company.

What Happened in the Stock Market Today
Fri, 21 Sep 2018 21:04:33 +0000
On a mixed day for the major benchmarks, Medtronic announced plans to buy Mazor Robotics, and Micron Technology beat expectations for its latest quarter.

Where is the bottom for Micron stock and earnings as memory market fizzles?
Fri, 21 Sep 2018 20:54:00 +0000
Micron Technology Inc. investors were expecting some doom and gloom with the company’s earnings report Thursday, but they still received negative surprises that led analysts to ponder where the bottom will be for the memory maker’s finances and share price.

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