Micron Technology (MU) Crosses Pivot Point Resistance at $7.33
Shares of Micron Technology (NASDAQ:MU) have bullishly opened above the pivot of $7.19 today and have reached the first resistance level of $7.33. Investors may be interested in a cross of the next upside pivot targets of $7.42 and $7.65.
Micron Technology share prices have moved between a 52-week high of $8.09 and a 52-week low of $5.56 and are now trading 31% above that low price at $7.31 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 1.7%.
Potential upside of 21.5% exists for Micron Technology, based on a current level of $7.31 and analysts' average consensus price target of $8.88. Micron Technology shares have support at the 200-day moving average (MA) of $6.29 and additional support at the 50-day MA of $6.11.
SmarTrend recommended that subscribers consider buying shares of Micron Technology on December 5th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $6.11. Since that recommendation, shares of Micron Technology have risen 18.4%. 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