LONG Micron (MU) - Target Price ~$22.50

Went LONG MU @ $18.64 at market open this morning. Upside target $22.50.

 

$MU bounced off of support @ 18.30. looking to finish above 20.00 by year end.

 

We might see $20 before the end of the week. UP to $19.70 premarket already.

 

The days not over yet. But may not have to wait till the end if the week... It poked above $20 TODAY.

 

Well that didn't take long. Up nearly 10% in 2 days. Closed at the last 52 week high ($20.44) but intra-day made a new 52 week high.

 

$MU is hot, +100% since May low. Hedge funds sensed it coming & were buying in the past 2 Qs. But it is still under owned among hedgies.

 

Still LONG here. Raising stop to breakeven.

 

BAM!!!


Almost there....

Who says TA does not work??

 

$22.50 hit in the after hours,.... what to do? Take profits or let it ride? THIS to me is the hardest part of trading,.....

I think I will let her ride for now until I see weakness in price action. Raising stops to preserve some profit.

 

1- Great trade. Well done!
2- It's not all or nothing on the cover. If it hit your original target but you think there might still be some upside, why not peel of 1/4 - 1/2 and let the rest go?