• Return to Headlines

Watch for Micron Technology to Potentially Pullback After Gaining 2.02% Yesterday

By James Quinn

Micron Technology (NASDAQ:MU) traded in a range yesterday that spanned from a low of $25.81 to a high of $26.61. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $26.23 on volume of 17.1 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, Micron Technology share prices have been bracketed by a low of $9.35 and a high of $26.61 and are now at $26.32, 181% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.4% while the 200-day MA has slid 1.3%.

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 82.9%. 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