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SmarTrend Watching for Potential Rebound in Shares of Micron Tech After 2.12% Loss

By Amy Schwartz

Micron Tech (NASDAQ:MU) traded in a range yesterday that spanned from a low of $58.77 to a high of $60.57. Yesterday, the shares fell 2.1%, which took the trading range below the 3-day low of $59.94 on volume of 25.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Micron Tech on May 10th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $52.14. Since that recommendation, shares of Micron Tech have risen 15.2%. We continue to monitor MU for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, Micron Tech has traded in a range of $27.27 to $60.57 and is now at $58.91, 116% above that low. The 200-day and 50-day moving averages have moved 0.99% higher and 1.06% higher over the past week, respectively.

Keywords: rebounders micron tech

Ticker(s): MU