Micron Technology Inc. Stock Code MU.NAS
Price broke above the cloud on 27 May 2020 and reached a high of $54.82 on 5 June 2020. After reaching this high, a price correction brought price to a low of $47.10, which was also above the Ichimoku cloud. There was another price correction but the second pullback did not go below $47.10, maintaining the bullish trend. Conversion line and Base line had a bullish crossover on Friday, hinting of an end to the correction and the start of the bullish trend. Lagging Span is above price of 26 days ago and also above the cloud as well, confirming a strong bullish trend. MACD is bullish confirming a bullish trend ahead. We are expecting price to test the previous high of $54.82 in the short term and to establish a new high around $56 in the longer term.
$54.80 Price Target
$45.95 Risk Management Stop
3 weeks Trade Duration