Micron Technology MU Sets Up New Swing Trade
MU Micron Technology 9.23.19
Not much new in the form of a trading catalyst over the weekend. Which for my style of trading is actually great.
I am a tape reader which means a heavy focus on price action and volume. My game plan for the week is cash flow trades. Looking for declines in strong stocks that offer profit potential to reach new highs.
MU Micron Technology sets up a new swing trade long (buying opportunity). I'm looking for the stock to open lower and push lower into the $48.50 area for a bid, with a stop loss on a close below $47.50.
My profit target comes in at $58.
Keeping JPM JP Morgan on my radar. We called out a nice long and looking for the next push higher.
We also called the Saturation Point high in Roku (2 days before it got smashed). News has taken over the stock, it's a perfect stock to day trade if you have discipline. If not step aside, you can get clobbered with an opinion.
Still short in SQ Square. I would have liked to see it close on the lows Friday, will monitor it today for volume, if we see another close off the lows I may scratch the trade for a small profit.
Have a great day.
Pete
