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SmarTrend Watching for Potential Pullback in Shares of Micron Technology After 3.30% Gain

By James Quinn

Micron Technology (NASDAQ:MU) traded in a range yesterday that spanned from a low of $17.20 to a high of $17.66. Yesterday, the shares gained 3.3%, which took the trading range above the 3-day high of $17.41 on volume of 11.3 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 Technology have traded between a low of $9.35 and a high of $20.57 and are now at $17.57, which is 88% 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 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: rebounders Micron Technology

Ticker(s): MU