MU Technical Analysis - MICRON TECHNOLOGY INC

Technical Rating and Analysis

Taking everything into account, MU scores 9 out of 10 in our technical rating. 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.

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

MU is one of the better performing stocks in the Semiconductors & Semiconductor Equipment industry, it outperforms 85% of 112 stocks in the same industry.

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 has an average volume of 23775000 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

When comparing the yearly performance of all stocks, we notice that MU is one of the better performing stocks in the market, outperforming 93% of all stocks. However, this overall performance is mostly based on the strong move around 4 months ago.

In the last month MU has a been trading in the 154.65 - 201.00 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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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 present a decent entry opportunity 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

127.22

183.42

We found 4 important support areas.

Support @175.64 from a trend line in the daily time frame.
Support @156.82 from a horizontal line in the daily time frame.
Support @131.20 from a trend line in the daily time frame.
Support @128.50 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 MU is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for MU is up.
ChartMill Relative Strength	93.02	POSITIVE	MU has a high relative strength, it outperformed 93.02% 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)	62.04	NEUTRAL	The RSI value for MU is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.44	POSITIVE	The MACD value suggests MU has a positive trend, although the MACD value is declining.
Stochastics (14,3)	76.61	NEUTRAL	The Stochastics value for MU is a neutral value.
Average True Range in percent/ATR (20)	4.44	MEDIUM VOLATILITY	The ATR as a percentage value for MU suggests some volalility.
Average Directional Index/ADX (14)	46.04	POSITIVE	The high ADX value value for MU suggests a strong trend.