• Return to Headlines

Micron Technology (MU) Approaches New Upside Target of $28.29

By James Quinn

Shares of Micron Technology (NASDAQ:MU) opened today above their pivot of $27.48 and have already reached the first level of resistance at $27.89. Should the shares continue to rise, the resistance pivots of $28.29 and $29.10 will be of interest.

Micron Technology share prices have moved between a 52-week high of $29.87 and a 52-week low of $9.35 and are now trading 200% above that low price at $28.04 per share. The 200-day and 50-day moving averages have moved 1.28% lower and 0.42% lower over the past week, respectively.

There is potential upside of 8.4% for shares of Micron Technology based on a current price of $28.04 and an average consensus analyst price target of $30.39. The stock should find initial support at its 200-day moving average (MA) of $14.06 and further support at its 50-day MA of $10.83.

SmarTrend recommended that subscribers consider buying shares of Micron Technology on July 25th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $14.11. Since that recommendation, shares of Micron Technology have risen 94.8%. We continue to monitor MU for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts Micron Technology

Ticker(s): MU