Score 9.1 (out of 10): MICRON TECHNOLOGY INC sets up for +5.8% rally in 2 weeks

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What’s Going On Here?

MICRON TECHNOLOGY will report earnings today after the market (Dec 20). The storage chip manufacturer is estimated to have made $2.10 in profit per share on $11.25bn in sales. Micron has provided a weak sales forecast for the past quarter in its September earnings call, citing slowing demand from personal computer makers.

Why Now?

MICRON TECHNOLOGY INC has triggered a new price range signal. During similar occasions, MICRON TECHNOLOGY INC shares had a median return of +5.8%, over the following 2 weeks – based on 10 historical occasions with 10 of those showing positive returns (100%). This buy signal for MICRON TECHNOLOGY INC received a high score of 9.1 (out of 10). This insight was generated on 2021-December-17 with last price of 83.

What’s This Company About?

MICRON TECHNOLOGY INC is in the Electronic Compo-Semicon business. Based on the last 2 years’ risk/return profile, this asset is seen as Less Risky. ‘Wall Street’ analysts think the stock price will be worth 15.5% more (average). Ticker symbol: MU US.

What’s My Risk / Reward and Time Horizon?

We found 2 weeks to be the optimal trade horizon, after testing a number of possible alternatives (accuracy of previous returns). Otherwise consider closing out this trade once the target level of 87.81 (+5.8%) has been reached. Based on MICRON TECHNOLOGY INC’s recent up and down swings, LongShortBets suggests considering to set a stop loss level for this insight at 76.1 (last price at 83), which is equivalent to a -8.3% decline.

Returns during similar periods:

The chart above shows the previous returns (in %) based on similar setups with the most recent ‘insight’ shown under (1), the second most recent ‘insight’ shown under (2), etc. 

Previous episodes:

13.3% (March-2021), 0.8% (July-2020), 5.8% (August- 2019), 5.8% (March-2019), 3.1% (April-2018), 1% (December-2017), 6.5% (June-2017), 8.3% (February-2017), 4% (October-2016), 7.5% (December-2014).

Historical Chart:

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Summary:

NameMICRON TECHNOLOGY INC
ViewUp
Star (1 to 10)9.1
Target+5.8%
Time2 weeks
Hit Rate100%

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