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After Yesterday's Rally of 1.99% Shares Could Potentially Pullback

By Shiri Gupta

Micron Tech (NASDAQ:MU) traded in a range yesterday that spanned from a low of $43.90 to a high of $45.20. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $45.11 on volume of 16.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Micron Tech have traded between a low of $11.50 and a high of $49.89 and are now at $44.90, which is 290% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.3% while the 50-day MA has declined 0.4%.

SmarTrend is tracking the current trend status for Micron Tech and will alert subscribers who have MU in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders micron tech

Ticker(s): MU