Technical Analysis – 28 September 2023

Shares closed higher above the 20dEMA with a surge in volume. 5dEMA is about to cross the 20dEMA.
MACD is about to turn positive, RSI is constructive.
Long – Entry 65.0, Target 69.0, Stop 63.0

Shares closed above the 5dEMA with an increase in volume. The 20dEMA crossed the 50dEMA.
RSI is constructive and MACD turned positive.
Long – Entry 43.50, Target 47.00, Stop 41.75

Shares closed at a 4-month high above the 5dEMA with a rise in volume. The 50dEMA is about to cross the 200dEMA.
RSI is constructive and MACD just turned positive.
Long – Entry 39.0, Target 42.0, Stop 37.5

Micron Technologies, Inc. (MU)

4Q23 Revenue: $4.01B, -39.6% YoY, beat estimates by $80M
4Q23 GAAP EPS: -$1.07, beat estimates by $0.11
1Q24 Guidance: Revenue $4.40 billion ± $200 million vs. consensus of $4.21B, Gross margin (4.0%) ± 2.0%, EPS ($1.07) ± $0.07 vs. consensus of -$0.92.
Comment: The company forecasted a wider-than-expected 1Q24 loss. Consumers have cut down on their consumption of personal computers and smartphones, resulting in the company needing to cope with lacklustre demand and stockpiles of excess parts. However, the management mentions that the company has taken decisive actions on supply and cost, which will help the company as they expect the market for memory chips to recover in 2024 and reach record levels in 2025. The company is also preparing to ramp up production of new product lines and is also working to become a supplier to Nvidia. 1Q24 recommended trading range: $60 to $70. Neutral Outlook.

美光 (MU)

23财年第四季营收：40.1亿美元, 同比跌幅39.6%，超预期8,000万美元
23财年第四季GAAP每股亏损：1.07美元，超预期0.11美元
24财年第一季指引：营收44亿美元±2亿美元，市场预期为42.1亿美元，毛利率(4.0%)±2.0%，每股亏损1.07美元±0.07美元，市场预期为亏损0.92美元。
短评：该公司预计第一季度亏损超出预期。消费者减少了个人电脑和智能手机的消费，导致该公司需要应对低迷的需求和过剩零件的库存。但是，管理层表示，公司在供应和成本方面采取了果断的行动，这将有助于公司，因为他们预计内存芯片市场将在2024年恢复，并在2025年达到历史最高水平。该公司还准备增加新产品线的生产，并正在努力成为英伟达的供应商。24财年第一季度建议交易区间：60至70美元。中性前景。