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Micron Technology (MU) Breaks Through Resistance at $17.13

By David Diaz

Micron Technology (NASDAQ:MU) has opened bullishly above the pivot of $17.03 today and has reached the first level of resistance at $17.13. Should the shares continue to rise, the resistance pivots of $17.26 and $17.49 will be of interest.

In the past 52 weeks, Micron Technology share prices have been bracketed by a current low of $0.00 and a high of $20.57 and are now at $0.00. Over the last five market days, the 200-day moving average (MA) has gone down 1.3% while the 50-day MA has declined 0.4%.

Micron Technology has overhead space with shares priced $0.00, or 100.0% below the average consensus analyst price target of $21.10. Micron Technology shares should first meet resistance at the 50-day moving average (MA) of $10.83 and find additional resistance at the 200-day MA of $14.06.

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 20.5%. 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