MTE Technical Analysis - MICRON TECHNOLOGY INC

Technical Rating and Analysis

Taking everything into account, MTE scores 9 out of 10 in our technical rating. Both in the recent history as in the last year, MTE has proven to be a steady performer, scoring decent points in every aspect analyzed.

Warning: MTE has an average volume of 21112 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.

Both the short term and long term trends are positive. This is a very positive sign.

MTE is part of the Semiconductors & Semiconductor Equipment industry. There are 59 other stocks in this industry. MTE outperforms 96% of them.

MTE is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.

In the last month MTE has a been trading in the 133.18 - 183.92 range, which is quite wide. It is currently trading near the high of this range.

Looking at the yearly performance, MTE did better than 97% of all other stocks. However, this overall good ranking is mostly due to the recent strong move.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

MICRON TECHNOLOGY INC / MTE Weekly stock chart

MICRON TECHNOLOGY INC / MTE Daily stock chart

Setup Rating and Analysis

Although MTE has an excellent technical rating, it does not offer a high quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

114.98

170.37

When analyzing the support we can see 3 important areas.

A support zone ranging from 167.63 to 168.05. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
A support zone ranging from 157.21 to 158.26. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Support @116.14 from a trend line in the weekly time frame.

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	UP	POSITIVE	The long term trend for MTE.DE is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for MTE.DE is up.
ChartMill Relative Strength	97.73	POSITIVE	MTE.DE has a high relative strength, it outperformed 97.73% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of MTE.DE is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of MTE.DE is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of MTE.DE is above the rising SMA(200).
Relative Strength Index/RSI (14)	65.71	NEUTRAL	The RSI value for MTE.DE is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.21	POSITIVE	The MACD value suggests MTE.DE has a positive trend, although the MACD value is declining.
Stochastics (14,3)	78.72	NEUTRAL	The Stochastics value for MTE.DE is a neutral value.
Average True Range in percent/ATR (20)	4.47	MEDIUM VOLATILITY	The ATR as a percentage value for MTE.DE suggests some volalility.
Average Directional Index/ADX (14)	48.82	POSITIVE	The high ADX value value for MTE.DE suggests a strong trend.