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Archive - 3/15/2024 - Sign In to see current Signals. |
Micron Technology (MU) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was the negative week for the Micron Technology (MU). During the week, the MU dropped -4.37 points, or -4.48%, and closed at 93.25 on Friday, March 15, 2024. Weekly volume was 21% above average. MU is a member of Information Technology Sector. Information Technology is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry. Long-term trend: [See MU long-term trend chart] A long-term uptrend had started on December 22, 2022 at 48.43 and reached 101.84 on March 8, 2024. MU gained -53.41 points, or -110.28%, in 63 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 76.45 and resistance is at 99.60. 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 February 20, 2024 at 79.15 and reached 101.84 on March 8, 2024. MU gained -22.69 points, or -28.67%, in 2 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 97.64 and resistance is at 90.99. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle 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 above its signal line since November 3, 2023. This is an indication that the medium-term trend is up. 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 March 8, 2024 at 101.84 and reached 90.30 on March 14, 2024. MU lost 11.54 points, or 11.33%, in 6 days. Price is near the Fibonacci 23.6% 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. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help. During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
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