My No. 1 Stock Pick for 2018

The Micron Technology, Inc. (MU) is a well-known NASDAQ listed company and provides semiconductor systems worldwide. Chip Leader is my personal No. 1 Top-Stock for 2018!

Thursday, after the close memory-chip titan reported 2Q/2018 earnings figures which once again topped analysts` expectations. The company posted adjusted earnings of $2.82$ per share, beating consensus estimate of 2.74$. The company saw revenue figures of 7.35$ billion, beating consensus estimate of 7.23$ billion. Total revenues were up 58% from the prior-year period. GAAP net income was 3.31$ billion, or 2.67$ per diluted share, up from $894 million, or $0.77 per diluted share, in the year-ago quarter.

The outlook for MU remains golden: the company also raised the higher end of its 3Q/2108 revenue forecast to 7.60$ billion from 7.35$ billion, while retaining the lower end at 7.20$ billion. The stock is now generating annual EPS of around 11$, which brings the FPE down from the 7s to the 5s. Incredible! And now there is also a gift from heaven in reach because shares sold off after the figures influenced by current bearish overall market environment/sentiment caused by China tariffs talks.

Thank You! Thanks a lot for cratering MU right now!

Watch this. For over a year, we already work with this setup in the monthly time frame:.

Most recently, we were able to secure a long position at 44.95$ with its help! Classic 13!! Fib number Candle up, starting at final 2016 Low, showing a possible 2018 main uptarget at 53.90$ which is located at lower line of 2nd double arc upmagnet for February 2018. For this latest MU trade please re-read Trade of the Day, January 5, 2018.

2018 rally leg was impressive and investors started to take profits after a big run-up after 2018 High came in on 03/13. 2018 High is at 63.42$. MU closed the week at 54.21$. Still defending prior calculated 53.90-2018 main uptarget.

After the possible 53.90$-2018 main uptarget was widely exceeded, I spent the days looking for a better understanding of this very powerful buy signal or trend continuation signal.

And I come to the following final resolution. Monthly 12 Candle up below also starting at final 2016 Low captures the course of this bull market much more accurately:

In this regard, please note the many well-fitting touches at monthly extremes I`ve highlighted by the different colored arrows. The 3 red arrows highlight month highs at double arc upper lines = natural resistance tests. Then we observe 3 nicely-fitting backtests from above at Blue Arc and upper line of 1st double arc support = natural support tests, highlighted by the green arrows. This month open is at lower line of 2nd (purple arrow) and this overcoming of prior bull market arc resistance triggered the march rally which is a BIG BUY CANDLE, activating the test of lower line of 3rd in trend direction in further course of 2018.

==> MU usually should test the lower line of 3rd double arc within this bull run (+80% probability in further course of 2018 cause major resistance of 2nd double arc & prior naturally anchorable well-tested prior "Resistance Angle", now "Support Angle" are overcome on weekly closing base! MU fires a new 2018 main uptarget at 70.50$ - MINIMUM!

Means current 2Q/2018 earnings dip or pullback is a BIG GIFT for mid-term investors. All in!! at now obviously underway backtest of upper line of 2nd double arc support which is at 54.30$ for the March and at 53.80$ for the April candle!!

==> Monster strong support magnet for April candle is the Support Angle and upper line of 2nd intersection at 53.80$.

==> Very strong bull market support and best long entry area starts at round about 54$ - and ranges down to round about 49$, there is lower line of 2nd future support. Current overall market sentiment together with the underway profit-taking in MU could lead to a very deep and completely overdone panic-dip which even could be able to fill the downside gap on daily base which is at 52.03$.

I buy the now activated 52.03$ gap fill - Buy-Limit order at 52.00$!

Click the button below and order the GUNNER24 Trade of the Day - $49.90 US a month.