Watch for $MU to put in a bottom soon…

Weekly chart is presenting some indications that a base is in formation and could be confirmed in coming weeks. Also, Whitney Tilson has come out recently defending his positive view on the stock…

“The stock is stupidly cheap at ~4x the company’s potential earnings power in a good environment (which I estimate at $4/share), a 40% discount to the replacement value of its manufacturing facilities, and 24% below a lowball $21 bid by a Chinese state-owned chip design company, Tsinghua Unigroup Ltd.,” Tilson said.

Additionally, there is a player who has placed a sizable call fly position. Watch Jan 2017 20 calls 3400@$1.66. 

Also on radar : $IRY and $XLI

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