MU Technical Analysis - MICRON TECHNOLOGY INC

Technical Rating and Analysis

We assign a technical rating of 10 out of 10 to MU. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, MU is showing a nice and steady performance.

The long and short term trends are both positive. This is looking good!

Looking at the yearly performance, MU did better than 91% of all other stocks. On top of that, MU also shows a nice and consistent pattern of rising prices.

MU is part of the Semiconductors & Semiconductor Equipment industry. There are 112 other stocks in this industry. MU outperforms 83% of them.

MU 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 MU has a been trading in the 113.46 - 160.34 range, which is quite wide. It is currently trading near the high of this range.

Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.

MU has an average volume of 20859200 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.

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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 / MU Weekly stock chart

MICRON TECHNOLOGY INC / MU Daily stock chart

Setup Rating and Analysis

Although MU has an excellent technical rating, it does not offer a high quality setup at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

64.99

160.35

We found 4 important support areas.

A support zone ranging from 157.76 to 157.78. This zone is formed by a combination of multiple trend lines in multiple time frames.
A support zone ranging from 120.71 to 121.42. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Support @112.23 from a trend line in the daily time frame.
Support @65.65 from a horizontal 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 MU is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for MU is up.
ChartMill Relative Strength	91.31	POSITIVE	MU has a high relative strength, it outperformed 91.31% 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)	82.52	OVERBOUGHT	The high RSI value suggests MU may be overbought.
Moving Average Convergence Divergence/MACD (12, 26, 9)	3.89	POSITIVE	The MACD value suggests MU has a positive trend.
Stochastics (14,3)	92.83	OVERBOUGHT	The high Stochastics value suggests MU may be overbought.
Average True Range in percent/ATR (20)	3.27	MEDIUM VOLATILITY	The ATR as a percentage value for MU suggests some volalility.
Average Directional Index/ADX (14)	30.98	POSITIVE	The high ADX value value for MU suggests a strong trend.