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.

 

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


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

Most Popular Stories on StockNews.com


When is the Next Bull Run for Stocks?

After the S&P 500 (SPY) made new all time highs in March it was time for a well deserved pullback in April. Now after testing key support levels stocks have bounced for 2 days. Does that mean more upside to come? Or will we be back on the “pain train”? Steve Reitmeister answers these questions in more in his updated market outlook with trading plan and preview of top stocks. Enjoy the full story below...

3 Gold Stocks to Buy Poised for Success

With expected interest rate cuts, surging gold jewelry demand, and ongoing geopolitical conflicts, gold prices have hit record highs this year. Thus, it could be wise to buy fundamentally sound gold stocks Centerra Gold (CGAU), Gold Fields (GFI), and Kinross Gold (KGC), which are well-poised for success. Keep reading…

3 Internet Stocks Poised up for Rapid Growth in April

The internet industry thrives thanks to expanding usage, its transformative impact on work and communication globally, advancements in 5G, and its widespread integration into daily life. Hence, it could be wise to consider adding internet stocks ATRenew (RERE), Chegg (CHGG), and 1-800-FLOWERS.COM (FLWS) to one’s portfolio for growth. Read on...

TXN vs. INTC Earnings Alert - Which Chip Stock Will Surge Ahead?

Growing applications of chips across diverse end-use sectors and emerging digital technologies will shape the growth trajectory of the semiconductor industry and create several opportunities for industry players. So, let’s analyze Texas Instruments (TXN) and Intel (INTC) to determine which of these chip stocks will surge following their first-quarter earnings. Read more...

Updated 2024 Stock Market Outlook

The bull market continues to rage on with the S&P 500 (SPY) making new highs. That is the past...the question is what does the future hold? That is why 44 year investment veteran Steve Reitmeister provides this updated 2024 Stock Market Outlook to help you carve a path to outperformance the rest of the year. Read on below for the full story...

Read More Stories

More Micron Technology Inc. (MU) News View All

Event/Date Symbol News Detail Start Price End Price Change POWR Rating
Loading, please wait...
View All MU News