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Watch for Shares of Micron Tech (MU) to Approach Resistance at $43.03

By James Quinn

Shares of Micron Tech (NASDAQ:MU) have bullishly opened above the pivot of $41.53 today and have reached the first resistance level of $42.39. Analysts will be watching for a cross of the next upside pivot targets of $43.03 and $44.53.

Micron Tech share prices have moved between a 52-week high of $55.64 and a 52-week low of $39.42 and are now trading 9% above that low price at $43.12 per share. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 1.1%.

There is potential upside of 70.4% for shares of Micron Tech based on a current price of $43.12 and an average consensus analyst price target of $73.48. The stock should run into initial resistance at its 200-day moving average (MA) of $50.28 and subsequent resistance at its 50-day MA of $51.72.

SmarTrend is monitoring the recent change of momentum in Micron Tech. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Micron Tech in search of a potential trend change.

Keywords: pivot alerts micron tech

Ticker(s): MU