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

450

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.
Advertisement
Trade in milliseconds

Explore the most actively traded options

Trade 600+ futures products on an advanced platform