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Micron Tech: The Winning Streak Continues (MU)

By James Quinn

Shares of Micron Tech (NASDAQ:MU) traded at a new 52-week high today of $60.57. Approximately 8.1 million shares have changed hands today, as compared to an average 30-day volume of 51.6 million shares.

There is potential upside of 21.9% for shares of Micron Tech based on a current price of $60.30 and an average consensus analyst price target of $73.48. The stock should find initial support at its 50-day moving average (MA) of $53.67 and further support at its 200-day MA of $46.21.

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.

In the past 52 weeks, shares of Micron Tech have traded between a low of $27.27 and a high of $60.57 and are now at $60.30, which is 121% above that low price. The 200-day and 50-day moving averages have moved 0.99% higher and 1.06% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Micron Tech on May 10th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $52.14. Since that recommendation, shares of Micron Tech have risen 15.2%. We continue to monitor MU for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows micron tech

Ticker(s): MU