MICRON TECHNOLOGY INC (MU) Stock Technical Analysis
NASDAQ:MU - Nasdaq - US5951121038 - Common Stock - Currency: USD
We assign a technical rating of 9 out of 10 to MU. Both in the recent history as in the last year, MU has proven to be a steady performer, scoring decent points in every aspect analyzed.
Both the short term and long term trends are positive. This is a very positive sign.
MU is part of the Semiconductors & Semiconductor Equipment industry. There are 110 other stocks in this industry. MU outperforms 77% of them.
MU is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so MU is lagging the market slightly.
MU is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
MU has an average volume of 21445800 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Looking at the yearly performance, MU did better than 88% of all other stocks. However, this overall good ranking is mostly due to the recent strong move.
Besides having an excellent technical rating, MU also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 122.28, a Stop Loss order could be placed below this zone.
More info and screens
62.95
126.01
We found 3 important support areas.
- A support zone ranging from 119.48 to 122.28. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @65.65 from a horizontal line in the weekly time frame.
- Support @63.59 from a horizontal line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 123.98 to 124.76. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
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 MU is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MU is up. |
| ChartMill Relative Strength | 88.32 | POSITIVE | MU has a high relative strength, it outperformed 88.32% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MU is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MU is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of MU is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 66.19 | NEUTRAL | The RSI value for MU is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -1.07 | NEGATIVE | The MACD value suggests MU has a negative trend. |
| Stochastics (14,3) | 49.59 | NEUTRAL | The Stochastics value for MU is a neutral value. |
| Average True Range in percent/ATR (20) | 3.36 | MEDIUM VOLATILITY | The ATR as a percentage value for MU suggests some volalility. |
| Average Directional Index/ADX (14) | 46.1 | POSITIVE | The high ADX value value for MU suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 124.77 | 119.47 | 5.30 (4.25%) | 23.54% |
| An entry @124.77. This is a Buy Stop order right above the resistance zone. | An exit @119.47. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 5.30 points, which is 4.25%. | For a 1.00% total portfolio risk, you can invest 23.54% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of MU. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
122.29
+0.55 (+0.45%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustrySemiconductors & Semiconductor Equipment
Performance
% Chg0.45%
1 Week-2.94%
2 Weeks0.39%
1 Month18.44%
3 Month88.95%
6 Month36.07%
12 Month-7.07%
2 Year71.3%
3 Year97.69%
5 Year144.31%
10 Year560.67%
15 Year1579.81%
Volatility
ATR(14)4.12
ATR(20)%3.36%
ATR Inc-16.09%
Range Today1.8
ADR(20)3.61
ADR(20)%2.95%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS88.32
Mansfield1.46
10 Day High129.85
10 Day Low118.06
20 Day High129.85
20 Day Low105.53
52 Week High136.5
52 Week Low61.54
CS1 End122.28
CR1 Start123.98
Volume & EV
DER(3)1.83%
DER(5)1.45%
Volume13.25M
Volume Incr4.8%
Vol(5)25.41M
Vol(50)21.45M