Changed from bearish to bullish on MU after it stabilized above VWAP; expects price to reach 1200 before earnings in ~25 days.
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One of the stocks we were looking at was SanDisk and also Micron. We were talking about SanDisk and Micron. And I was saying, basically, there are some things that are happening.
I won't burden you with all the details, but it's not really the place you'd like to be .
So, I think it might even be before 10:00, after I gave some kind of bearish forecast for Sandisk and Micron. Honestly, guys, I don't think this is really where you'd like to be .
I raised my hand and said, "Well, to be honest, I should tell you that I just bought shares of SanDisk and Micron." The moral of this story is: if you are a trader, it is never too late to change your mind if you think you are wrong. So, I've changed my mind about this.
Now, Micron has done exactly the same thing . So, it rose initially, and this yellow or orange line is the volume-weighted average price . This is like a magnet for stocks that are subject to accumulation.
It must remain above this average (VWAP) and stabilize above it. And when you retreat towards it, you must bounce off it. And that's exactly what Micron did.
These stocks closed very well . As I look at it now, I tell you, I have a whole set of fonts here. I have this stock rising above the thousand level. I think I'm not taking a risk by saying I expect it to reach the 1200 level.
It will take some time, but they won't announce their earnings for about 25 days. As far as I'm concerned, the stock seems to be heading towards an earnings announcement.
So, I like these two arrows. I didn't rush into buying, not at all. They were small, conservative trades in both, but I like the way they trade, and if they continue to rise on Tuesday, I will put them on the active trading list and we will go all in .
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What this channel has said about $MU
Stock Market Mentor has only this one call on this stock.