Micron Technology (MU) – [ Up Another 10%, Is It Too Late Now? ]

Chart Source: Poemsview 22nd Nov 2021

Micron (MU) saw a nice pop of around 8% on Friday after the chip maker received the selection of "Top Pick" at Evercore ISI! Good job for those who read the blog and took action!

Analyst C.J. Muse of Evercore ISI has high expectations for MU stock. Muse noted that the prices for dynamic random-access memory (DRAM) are likely to bottom out in the first half of 2022. However, since DRAM prices have yet to do so, Muse rationalizes that investors are still hesitant about MU stock. Once the price actually bottoms out, investors will pour money into stocks like Micron in a "fast and furious" manner. For this reason, Muse has set a $100 price target on MU stock, representing a 20% upside from current prices.

So is it too late to get in now? Well, the risk reward to us is not on our side, our upside resistance is around $90 and that’s where we might see some profit taking coming in. For a quick trade we might want to ensure that MU stays above $83 with a tight stop loss of around $82. As we mentioned MU earlier in the Nov, and it has already gone up 20% so for us entering now might not be to our liking! Remember, we like to try to enter the trade when the Risk Reward is on our side and where there is a higher probability of winning!

We hope you learnt something from our post so far!

Trade safe!

Yours

Humbly

Kelwin&Roy

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