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Downtrend ExhaustionArchive
- 4/26/2024 -
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Micron Technology (MU) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week for the Micron Technology (MU). During the week, the MU gained 8.07 points, or 7.56%, and closed at 114.84 on Friday, April 26, 2024. Weekly volume was 17% above average.
 Long-term trend: [See MU long-term trend chart]
A long-term uptrend had started on December 22, 2022 at 48.43 and reached 130.54 on April 4, 2024. MU gained -82.11 points, or -169.54%, in 67 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (88.04) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
Medium-term trend: [See MU medium-term trend chart]
A medium-term uptrend had started on July 6, 2023 at 60.50 and reached 130.54 on April 4, 2024. MU gained -70.04 points, or -115.77%, in 39 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (84.66) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See MU weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since November 3, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See MU short-term trend chart]
A short-term downtrend had started on April 4, 2024 at 130.54 and reached 105.72 on April 19, 2024. MU lost 24.82 points, or 19.01%, in 15 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 95.57 and resistance is at 121.00. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a short-term trend.
 Daily Technical Indicators: [See MU daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal.
The daily MACD line is below its signal line since April 11, 2024. This is an indication that the short-term trend is down.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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