Chart Study: Do You Know This Chipmaker Getting Close to Record Highs?

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Micron Technology (MU) has stalled after a big rally. Is it time to buy the dip?

The first pattern on the memory-chip maker’s chart is the oversold condition on stochastics. Given its current uptrend, strong fundamentals and positive macro backdrop (GDP +6%), that pullback alone is interesting.

Next is a trend line running along the lows of January 27 and March 25. It held that line last week.

Third, consider the $96.96 level where …

For more, please click here to view the full idea and chart analysis on TradingView.

Micron Technology (MU), daily chart, with key patterns, courtesy of TradingView.
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