Chart of the Day: Micron Technology Inc. (MU)

NASDAQ: MU | Micron Technology, Inc. News, Ratings, and Charts

MU – Micron Technology, Inc. (MU) engages in the provision of innovative memory and storage solutions.

Get Free Updates

Join thousands of investors who get the latest news, insights and top rated picks from StockNews.com!

 

Micron Technology, Inc. engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit; Mobile Business Unit; Storage Business Unit; and Embedded Business Unit.

Take a look at the 1-year chart of Micron (NASDAQ: MU) below with the added notations:

Over the course of the past 7 months, MU has formed an important level to watch at the $50 (blue) mark. That level was resistance back in November, brief support at the end of February, and then it became resistance again in April and May. MU just broke back above $50 yesterday, which could mean another support bounce is coming.

The Tale of the Tape: MU has a key level at $50. A trader could enter a long position on a pullback down to that level with a stop placed under it. However, if traders are bearish on the stock, a short trade could be made on a break back below the $50 mark.

Before making any trading decision, decide which side of the trade you believe gives you the highest probability of success. Do you prefer the short side of the market, long side, or do you want to be in the market at all? If you haven’t thought about it, review the overall indices themselves. For example, take a look at the S&P 500. Is it trending higher or lower? Has it recently broken through a key resistance or support level? Making these decisions ahead of time will help you decide which side of the trade you believe gives you the best opportunities.

No matter what your strategy or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade.  Capital preservation is always key!

Good luck!

Christian Tharp, CMT

Want More Great Investing Ideas?

9 “BUY THE DIP” Growth Stocks for 2020

Bull Market or Bull S#*t? How to trade today’s stock market bubble and prepare for the return of the bear market.

7 “Safe-Haven” Dividend Stocks for Turbulent Times

 


MU shares were trading at $53.51 per share on Friday morning, up $2.29 (+4.47%). Year-to-date, MU has declined -0.50%, versus a -0.55% rise in the benchmark S&P 500 index during the same period.


About the Author: Christian Tharp


Christian is an expert stock market coach at the Adam Mesh Trading Group who has mentored more than 4,000 traders and investors. He is a professional technical analyst that is a certified Chartered Market Technician (CMT), which is a designation awarded by the CMT Association. Christian is also the author of the daily online newsletter Todays Big Stock. More...


More Resources for the Stocks in this Article

TickerPOWR RatingIndustry RankRank in Industry
MUGet RatingGet RatingGet Rating

Get Free Updates

Join thousands of investors who get the latest news, insights and top rated picks from StockNews.com!


Top Stories on StockNews.com

NYSE: GS | Goldman Sachs Group, Inc. (The)  News, Ratings, and Charts

Chart of the Day: Goldman Sachs (GS)

Goldman Sachs (GS) has tested it’s trend line 5 times in the past 3.5 months.
NYSE: CLX | Clorox Company (The)  News, Ratings, and Charts

3 Consumer Products Stocks that are Cleaning Up

Clorox (CLX), Church & Dwight (CHD), and Kimberly-Clark (KMB) are taking advantage of the increased demand of personal care products.
NASDAQ: NTES | NetEase, Inc., each representing 25 ordinary shares News, Ratings, and Charts

Top 5 Large Cap Dividend Stocks for July 9, 2020

The top winners in the large cap US dividend space for Thursday, July 9, 2020 are NTES, PNR, WCN, SAP, and MXIM
NYSE: CRM | Salesforce.com Inc  News, Ratings, and Charts

4 SaaS Companies That Should Continue to Outperform in 2020

SaaS Companies such as Salesforce (CRM), ServiceNow (NOW), WorkDay (WDAY), and Okta (OKTA) are outperforming the rest of the market and should continue to see strength in the second half of 2020.
NYSE: KGC | Kinross Gold Corporation  News, Ratings, and Charts

5 Gold Stocks That Should Keep Glittering in 2020

Gold is breaking out to new highs on the weak economy, stimulus spending, and low rates. Kinross (KGC), Gold Fields, Yamana (AUY), B2Gold (BTG), and Harmony Gold (HMY) will keep outperforming the rest of the year.

Read More Stories


More Micron Technology, Inc. (MU) News View All

Event/DateSymbolNews DetailStart PriceEnd PriceChangePOWR Rating
Loading, please wait...
View All MU News