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Watch for Shares of Micron Technology (MU) to Approach Resistance at $31.41

By Nick Russo

Micron Technology (NASDAQ:MU) has opened bullishly above the pivot of $30.23 today and has reached the first level of resistance at $30.63. Analysts will be watching for a cross of the next upside pivot targets of $31.41 and $32.59.

In the past 52 weeks, shares of Micron Technology have traded between a low of $9.35 and a high of $32.93 and are now at $31.03, which is 232% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1.3% while the 50-day MA has declined 0.4%.

Micron Technology (NASDAQ:MU) defies analysts with a current price ($31.03) 2.1% above its average consensus price target of $30.39. The stock should discover initial support at its 200-day moving average (MA) of $14.06 and subsequent support at its 50-day MA of $10.83.

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 111.7%. We continue to monitor MU for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts Micron Technology

Ticker(s): MU