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


:  |  News, Ratings, and Charts

K.I.S.S. for the March Stock Market

K.I.S.S. is one of the all-time great acronyms as it implores people to stop overcomplicating things. Instead you need to “Keep It Simple, Stupid”. And yes, that is the case with the stock market (SPY) at this moment. It is bullish. Quite bullish in fact. The key is where to find outperformance. That will be our main focus today including details on the top 11 stocks and 3 ETFs for today’s market. Read on for more…

:  |  News, Ratings, and Charts

Why is Activision the Stock of the Week?

Video gaming is massively popular with an estimated 2.7 billion gamers who spend an average of 6 hours per week. Activision Blizzard (ATVI) is one of the premier videogame makers which has produced some of the most popular games. Surprisingly, the stock is undervalued by many metrics. Add it together and you understand why ATVI is our Stock of the Week.

:  |  News, Ratings, and Charts

3 Small-Cap Chinese Stocks to Buy in March

The Chinese economy was able to recover from the impact of the COVID-19 pandemic quicker than the rest of the world thanks to its government’s robust measures to curb the spread of the virus and reopen its industries. With an increasing government crackdown now on Chinese industry leaders, we believe small-cap stocks there, such as Cango (CANG), Qudian (QD), and China Online Education Group (COE), hold better growth potential.

:  |  News, Ratings, and Charts

Down 9% in 2021, is Now a Good Time to Scoop Up Pfizer Stock?

Pfizer (PFE) is at the forefront of the fight against COVID-19 with its FDA authorized vaccine now being deployed. Despite its stock’s recent retreat due increasing competition and its relatively unimpressive quarterly results, we think it wise to bet on PFE now because it is trading at a discount to its peers. Also, PFE is expected to gain significantly in the coming months based on growing demand for its products.

:  |  News, Ratings, and Charts

3 Small-Cap Chinese Stocks to Buy in March

The Chinese economy was able to recover from the impact of the COVID-19 pandemic quicker than the rest of the world thanks to its government’s robust measures to curb the spread of the virus and reopen its industries. With an increasing government crackdown now on Chinese industry leaders, we believe small-cap stocks there, such as Cango (CANG), Qudian (QD), and China Online Education Group (COE), hold better growth potential.

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