By Nigam Arora & Dr. Natasha Arora
Signal(s) to enter, add, reduce, exit, hold or change.
MU is long from $21.77. It is trading at $80.25 as of this writing. This represents a gain of 267%.
MU reported earnings. Earnings are above consensus but below the whisper number.
Momo crowd had run up the stock going into earnings. After earnings, the stock is pulling back because earnings came below the whisper numbers.
MU is a producer of DRAM and NAND semiconductor memory. 5G and electric vehicles are increasing the demand for memory.
There are shortages of memory across all segments.
The very long term target zone remains $126 to $135.
The recommended position size for the core position is 25% of full core position size.
For those following the Good Way, the Buy Now rating is ‘YES’ on this pullback. However, if the stock moves higher, the Buy Now rating will change to ‘NO.’
For those following the Best Way, the new buy zone is $69.27 to $77.58.
What To Do Now
Those in the stock with a very long-term horizon may consider continuing to hold.
Those not in the stock may follow the parameters given above.
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