Micron Technology Inc. Stock Code MU.NAS
Price broke above the cloud back on 8 October and reached a high of $54.85 on 22 October. After reaching the high, a price correction has brought price down to $49.30. The low was also at the lower edge of an uptrend channel, keeping the uptrend intact. In the previous trading session, price broke above a recent high and based on the V-shaped price projection, price could be heading to $60.30. Conversion and Base lines had a bullish crossover earlier, hinting of a bullish trend. Lagging Span is above price of 26 days ago and above the cloud, confirming the bullish trend. MACD is bullish and has a bullish crossover. We think price is likely to move towards the price target of $60.30.
$60.30 Price Target
$52.30 Risk Management Stop
3 weeks Trade Duration