Micron Is Moving | Investing.com

Adobe Poised For Breakout | Investing.com


Micron Technology Chart.

Shares of Micron Technology Inc (NASDAQ:) are ramping today. Positive comments from Deutsche Bank (DE:) (Micron was raised to buy from hold with a $60 price target at Deutsche Bank. Shares closed up 1.6% at $50.68 on Monday, with a $63.12 consensus price target.) have provided the spark.

Micron’s breakout move is driving the stock past heavy resistance near the $52.00 area (August/September highs). With solid support underneath the stock is set up well for a fresh rally leg. A close this week above last month’s high ($52.20) would be strong signal. On the downside a close back below $50.00 would violate this week’s low sending a clear warning sign that more range bound action is ahead. We consider MU a fairly low risk buy at current levels.

Note: We are long MU in some managed accounts.

You can read Gary S. Morrow’s original post here.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Source link

Gary S. Morrow


Leave a Reply

Your email address will not be published. Required fields are marked *


About us

InvestLab is a financial services technology company focused on the global trading market. Founded in 2010 in Hong Kong, the company develops trading, market data, and social research products that enable individual investors and small to mid-size brokers to access global markets. We provide brokers and financial institutions cross border capabilities for retail investors into 43 markets globally.


CONTACT US

CALL US ANYTIME