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

By Amy Schwartz

Micron Technology (NASDAQ:MU) traded today at a new 52-week low of $10.80. This new low was reached on below average trading volume as 4.6 million shares traded hands, while the average 30-day volume is approximately 30.3 million shares.

Potential upside of 93.4% exists for Micron Technology, based on a current level of $10.91 and analysts' average consensus price target of $21.10. Micron Technology shares should first meet resistance at the 50-day moving average (MA) of $13.75 and find additional resistance at the 200-day MA of $18.77.

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.

In the past 52 weeks, Micron Technology share prices have been bracketed by a current low of $10.80 and a high of $20.57 and are now at $10.91. The 200-day and 50-day moving averages have moved 2.27% lower and 3.37% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Micron Technology on November 9th, 2015 by issuing a Downtrend alert when the shares were trading at $16.13. Since that call, shares of Micron Technology have fallen 31.6%. 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