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

By James Quinn

Micron Technology (NASDAQ:MU) traded today at a new 52-week low of $19.78. So far today approximately 50.6 million shares have been exchanged, as compared to an average 30-day volume of 22.7 million shares.

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

Micron Technology has overhead space with shares priced $20.02, or 49.2% below the average consensus analyst price target of $39.40. Micron Technology shares should first meet resistance at the 50-day moving average (MA) of $26.94 and find additional resistance at the 200-day MA of $30.23.

Over the past year, Micron Technologyhas traded in a range of $19.78 to $29.87 and are now at $20.02. The 200-day and 50-day moving averages have moved 0.54% lower and 1.07% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Micron Technology on February 24th, 2015 by issuing a Downtrend alert when the shares were trading at $29.87. Since that call, shares of Micron Technology have fallen 19.6%. 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 Technology

Ticker(s): MU