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Micron Tech: New 52-Week Low Set Today (MU)

By David Diaz

Micron Tech (NASDAQ:MU) traded at a new 52-week low today of $32.27. This new low was reached on below average trading volume as 4.7 million shares traded hands, while the average 30-day volume is approximately 24.7 million shares.

In the past 52 weeks, shares of Micron Tech have traded between the current low of $32.27 and a high of $55.64 and are now at $34.02. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.6% while the 200-day MA has slid 0.7%.

Micron Tech has overhead space with shares priced $34.02, or 53.7% below the average consensus analyst price target of $73.48. Micron Tech shares should first meet resistance at the 50-day moving average (MA) of $38.09 and find additional resistance at the 200-day MA of $39.14.

Micron Technology, Inc., through its subsidiaries, manufactures and markets dynamic random access memory chips (DRAMs), static random access memory chips (SRAMs), flash memory, semiconductor components, and memory modules.

SmarTrend recommended that its subscribers protect gains by selling shares of Micron Tech on May 9th, 2019 by issuing a Downtrend alert when the shares were trading at $38.92. Since that call, shares of Micron Tech have fallen 11.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows micron tech

Ticker(s): MU