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Micron Technology Rises 1.98% on Heavy Volume: Watch For Potential Pullback

By James Quinn

Micron Technology (NASDAQ:MU) traded in a range yesterday that spanned from a low of $27.50 to a high of $27.89. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $27.55 on volume of 12.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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 197% above that low price at $27.78 per share. 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 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 93.3%. We continue to monitor MU for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders Micron Technology

Ticker(s): MU