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After Yesterday's Decline of 2.12%, Micron Tech Offers Investors Better Value

By Shiri Gupta

Micron Tech (NASDAQ:MU) traded in a range yesterday that spanned from a low of $58.77 to a high of $60.57. Yesterday, the shares fell 2.1%, which took the trading range below the 3-day low of $59.94 on volume of 25.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Micron Tech share prices have moved between a 52-week high of $60.57 and a 52-week low of $27.27 and are now trading 116% above that low price at $58.91 per share. Over the past week, the 200-day moving average (MA) has gone up 1.0% while the 50-day MA has advanced 1.1%.

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: rebounders micron tech

Ticker(s): MU