|
|
Downtrend Broken Resist.Archive
- 9/22/2023 -
Sign In to see current Signals. |
Micron Technology (MU) Technical Analysis
|
 |
| Summary:
| | Weekly : | | Daily :
Move cursor over the icon to see details.
| | It was the negative week for the Micron Technology (MU). During the week, the MU dropped -1.00 points, or -1.43%, and closed at 68.88 on Friday, September 22, 2023. Weekly volume was -19% below average.
MU is a member of Information Technology Sector. Information Technology is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See MU long-term trend chart]
A long-term uptrend had started on December 22, 2022 at 48.43 and reached 74.77 on May 30, 2023. MU gained -26.34 points, or -54.39%, in 22 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 65.42 and resistance is at 84.70. A Broadening Ascending 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern 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 72.34 on July 27, 2023. MU gained -11.84 points, or -19.57%, in 3 weeks. The chart has formed a Ascending Triangle chart pattern. The trend support level is at 62.72 and resistance is at 72.31. An Ascending Triangle is a variation of triangle formation that has a flat resistance line and rising support line. The higher lows indicate an increasing demand and give the ascending triangle definitive bullish bias. An Ascending Triangle usually represents an accumulation stage in bullish market. An Ascending Triangle is considered to be a continuation pattern, especially in an uptrend, but it may also mark a reversal in a downtrend. Use the following link to access a Ascending Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Ascending Triangle pattern in a medium-term trend.
 Weekly Technical Indicators: [See MU weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since September 1, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 September 20, 2023 at 72.31 and reached 67.79 on September 22, 2023. MU lost 4.52 points, or 6.25%, in 2 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See MU daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the price has declined below 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.
| |
|
|