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Micron Technology Technical Analysis - Micron Technology Trading: 2023-06-30
MU Technical Analysis Summary
Below 63.52
Sell Stop
Above 66.66
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Neutral |
| MA(200) | Buy |
| Fractals | Neutral |
| Parabolic SAR | Sell |
MU Chart Analysis
MU Technical Analysis
The technical analysis of the Micron stock price chart on 4-hour timeframe shows #S-MU,H4 is testing the 200-period moving average MA(200) which is rising still. We believe the bearish momentum will continue after the price breaches below the lower boundary of Donchian channel at 63.52. This level can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 66.66. After placing the order, the stop loss is to be moved every day to the next fractal high indicator, following Parabolic indicator signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (66.66) without reaching the order (63.52), we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Stocks - MU
Micron stock fell after the chipmaker reported better than expected revenues and narrower loss for the quarter. Will the Micron stock price persist retreating?
Micron Technology reported on Wednesday evening better than expected results for the quarter ended May 2023 – narrower loss and higher revenues. The chip maker delivered Q3 earnings and revenue surprises versus Wall Street expectations of 9.49% and 1.99% respectively. Its guidance for the current quarter also topped Wall Street estimates – the chip maker said the bottom was in for memory-chip revenue. The company said it expects margins to improve as “industry supply-demand balance is gradually restored.” Piper Sandler upgraded Micron to Neutral from Underweight and raised its price target to $70.00 from $45.00. Expectations of higher revenue and improving margins are bullish for a company stock price. However, the chip maker said a China ban will slow its recovery: the Biden administration is weighing tougher restrictions on exports of computer chips that process AI software, according to Wall Street Journal. Stock price closed down 4.09% over day on Thursday after the better than expected report.
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