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Archive
- 12/13/2024 -
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Micron Technology (MU) Technical Analysis
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| Summary:
| | | Weekly : | | Daily :
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| | It was a second consecutive positive week for the Micron Technology (MU). During the week, the MU gained 1.33 points, or 1.31%, and closed at 102.50 on Friday, December 13, 2024. Weekly volume was -22% below average.
 Long-term trend: [See MU long-term trend chart]
A long-term uptrend had started on November 20, 2008 at 1.59 and reached 157.54 on June 18, 2024. MU gained -155.95 points, or -9808.18%, in 812 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 51.90 and resistance is at 123.37. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
 Medium-term trend: [See MU medium-term trend chart]
A medium-term uptrend had started on December 22, 2022 at 48.43 and reached 157.54 on June 18, 2024. MU gained -109.11 points, or -225.29%, in 77 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 91.57 and resistance is at 111.86. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.
 Weekly Technical Indicators: [See MU weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since November 8, 2024. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.
 Short-term trend: [See MU short-term trend chart]
A short-term downtrend had started on September 26, 2024 at 114.80 and reached 95.50 on November 18, 2024. MU lost 19.30 points, or 16.81%, in 53 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See MU daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since December 3, 2024. The distance between MACD and the signal line is low, but getting bigger.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (9.21%) is close to one year low (8.84%). It is 57.72% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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