This stock has been chosen as a JUMP candidate for its upcoming earnings catalyst that is likely to move the stock between 5-20% post release. To conduct further research on the financials, analyst views and pivot points visit the Inside Mole research tool. This report is based on our analysis and opinions and the trade plan is how we intend to trade this event. As a self-directed trader you may decide to take a different approach to this event. For details on how we trade these events watch the video below.
Target: Micron Technology, Inc. (MU)
Earnings Release Date: 3/22/18 (After Market Close)
Position Entry Time: (at or near EOD-end of day)
Micron Technology, Inc. (MU) will be posting its FQ2-18 quarterly earnings results today at close. [MU] is expected to post earnings of $2.76 per share on revenue of $7228 Million. In the last quarter, the company reported $.2.45 earnings per share BEATING the analysts’ consensus estimate of $2.19 The stock is currently trading at $59.85 per share.
Last 3 Quarters – “Jump Zone” Move: 6.41%, 8.68%, -5.59%
Consensus Estimates: ($2.81 whisper) ($2.82 estimize) ($ ($2.76 wall street)
(** always check in the trade room 30 minutes prior to close for last minute trajectory updates)
ANALYSIS: StockJumpers trajectory analysis reveals a beat on the release but it may not pop and react similar to the way Oracle behaved earlier this week on their beat and drop. Our trajectory has this stock price going up (albeit a small jump with some sell-off and profit taking after). We went into the analysis with an initial contrarian view – thinking the data would show a down move post release. It didn’t. It was up, but with a zig-zag unconvincing move. We think it may be best to hold on this one – though our data clearly reveals a beat. Exercise caution if you plan to trade it. If this were trading in the 40’s we would not hesitate here.
We are overall LONG for the event but will be watching for an initial drop before we enter. The Trade Room will have updated news and moves.
(Note: This is an after-market release – today)
TARGET ‘JUMP ZONE’ POTENTIAL: 6%
CONFIDENCE RANKING: 8
POTENTIAL OPTIONS CONTRACT: NONE
Click here to go to the research page to review the current financials and analysis of this stock before you place any positions. Just enter the ticker symbol.