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Micron Technology Inc (MU) “On a long-term technical basis, the stock (MU) is trading above its 200-day moving average which generally implies it is in a positive trend.
The stock has support at 52.47 and 49.22. If the stock breaks down through support at 52.47 then it will probably continue lower to 49.22. The stock has resistance at 52.75 and at 61.25. If the stock breaks up through resistance at 52.75 then it will probably continue higher to 61.25. The 200-day moving average is at 49.19. This will also act as support. However, the stock has broken out of its long-term downtrend according to the fibonacci fan, which is significant. If the stock can form new support above 52.47 look for a rally to previous highs. The stock is slightly overbought according to the Stochastic Indicator (68.32).”
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