Micron (MU) Offering Possible 21.95% Return Over the Next 10 Calendar Days

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Micron’s most recent trend suggests a bullish bias. One trading opportunity on Micron is a Bull Put Spread using a strike $39.00 short put and a strike $34.00 long put offers a potential 21.95% return on risk over the next 10 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $39.00 by expiration. The full premium credit of $0.90 would be kept by the premium seller. The risk of $4.10 would be incurred if the stock dropped below the $34.00 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 70.91 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


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If it’s Micron Technology, Inc. (NASDAQ:MU), shares still look great off and on the price chart to this strategist. Last Tuesday, Micron simply killed it with its Q4 corporate confessional. And for once in a long while, investors, other than analysts, woke up to MU stock’s very bullish cyclical underpinnings off the price chart. Now and with a key breakout in hand, momentum on the Micron price chart is in a strong position to continue delivering the goods for bullish investors.

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Micron Technology Inc NASDAQ/NGS:MU

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