SEMICONDUCTOR MEMORY MANUFACTURER MU BREAKING OUT AHEAD OF iPHONE 8 LAUNCH, RAISING THE TARGET $MU $AAPL $SMH

SEMICONDUCTOR MEMORY MANUFACTURER MU BREAKING OUT AHEAD OF iPHONE 8 LAUNCH, RAISING THE TARGET $MU $AAPL $SMH

This post was just published on ZYX Buy Change Alert.

 MU is long from $21.77.  It is trading at $33.25 as of this writing.  From a technical perspective the stock is breaking out.  Please see the chart.

 

The new target zone is $39. to $47.  The reason for a wide target is that DRAM prices are often very volatile and move this stock over a wide range.

The new buy zone is $28 to $31.27.

What To Do Now

Those in the stock may consider continuing to hold.

Those not in the stock and are good at managing breakouts, may consider scaling in right here.

Those not in the stock and not experienced at managing breakouts, may consider patiently waiting for a dip in the new buy zone, Apple suppliers such as MU often dip within 60 days of an iPhone launch.

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