We like Facebook near the 200 area as it offers a compelling risk reward against the earnings gap that it defended. We have a medium term target of 285 from a valuation standpoint on this one. Technicals are starting to improve, but in order for our target to rise, we would need to clear the trend / 100 day moving average near 240 in order to have more confidence. For now, this is just levered beta
With Micron, we mentioned this chart in the past. The 68 range was a very important level that held to day. We still see the medium term target of 100 to be met if the broad markets hang in. Our DeMARK analysis showed TD Sequential 13's completed yesterday and we were able to purchase some. If you are interested in our direct institutional consulting work, please feel free to reach out as we are readily available via Discord, Email or WhatsApp for valuation and market timing.
Below is the Micron chart. We would be buying dips below 72 with a stop at 63. Target up to 100.
Lastly, we are looking to take stops in Gold miners and swap out the metals and mining exposure into Copper or Steel names here. The charts do not look constructive and have failed massive levels in the medium term. The 33 range was major moving average and the DeMARK Setup Trend which needed to hold for bullish structures to stay in tact. We are closing out Miners above 31 from the 33 entry last week for ~5% loss on the trade.