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Weaker technical forecast for Micron as stock downgraded to Sell Candidate
(Updated on Dec 02, 2024)

Sell candidate since Dec 02, 2024

The Micron stock price gained 0.613% on the last trading day (Monday, 2nd Dec 2024), rising from $97.95 to $98.55. During the last trading day the stock fluctuated 2.61% from a day low at $97.53 to a day high of $100.08. The price has risen in 6 of the last 10 days and is up by 2.29% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 15 million shares were bought and sold for approximately $1.49 billion.

The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $98.18 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 14.04% during the next 3 months and, with a 90% probability hold a price between $111.97 and $133.51 at the end of this 3-month period.

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MU Signals & Forecast

Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Micron stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $100.91 and $104.35. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, November 07, 2024, and so far it has fallen -13.10%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Micron stock

Micron finds support from accumulated volume at $95.77 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $2.55 between high and low, or 2.61%. For the last week, the stock has had daily average volatility of 3.25%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (MU) For The Upcoming Trading Day Of Tuesday 3rd

For the upcoming trading day on Tuesday, 3rd we expect Micron Technology to open at $98.72, and during the day (based on 14 day Average True Range), to move between $94.96 and $102.14, which gives a possible trading interval of +/-$3.59 (+/-3.65%) up or down from last closing price. If Micron Technology takes out the full calculated possible swing range there will be an estimated 7.29% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $95.77 (2.82%) than the resistance at $103.71 (5.24%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Micron Technology stock A Buy?

The Micron stock holds several negative signals and despite the positive trend, we believe Micron will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -4.635 Sell Candidate Downgraded

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Predicted Fair Opening Price

Predicted fair opening price on December 3, 2024 - $98.72 ( 0.173%).

Trading levels for MU

Fibonacci Support & Resistance Levels

Level Price
R3 101.27 2.76%
R2 100.30 1.77%
R1 99.69 1.16%
Price 98.55
S1 97.75 -0.82%
S2 97.14 -1.43%
S3 96.17 -2.42%

Accumulated Volume Support & Resistance Levels

Level Price
R3 109.88 11.50%
R2 107.50 9.08%
R1 103.71 5.24%
Price 98.55
S1 95.77 -2.82%
S2 90.90 -7.76%
S3 87.21 -11.51%

MU Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Sep 25, 2024 Oct 07, 2024 Oct 23, 2024 $0.115 0.109%
2 Jun 26, 2024 Jul 08, 2024 Jul 23, 2024 $0.115 0.101%
3 Mar 28, 2024 Mar 28, 2024 Apr 16, 2024 $0.115 0.0944%
4 Dec 20, 2023 Jan 02, 2024 Jan 18, 2024 $0.115 0.136%
5 Dec 20, 2023 Dec 29, 2023 Jan 18, 2024 $0.115 0.136%

FAQ

What is the symbol for Micron Stock and on which exchange is it traded?
The symbol for Micron is MU and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Micron Stock?
The Micron stock holds several negative signals and despite the positive trend, we believe Micron will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

How to buy Micron Stock?
Micron Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Micron Stock.

What's the current price of Micron Stock?
As of the end of day on the Dec 02, 2024, the price of an Micron (MU) share was $98.55.

What is the 52-week high and low for Micron Stock?
The 52-week high for Micron Stock is $157.54 and the 52-week low is $72.93.

What is the market capitalization of Micron Stock?
As of the Dec 02, 2024, the market capitalization of Micron is 109.12B.

When is the next earnings date for Micron?
The upcoming earnings date for Micron is Dec 18, 2024.
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ABOUT MICRON TECHNOLOGY
Micron
Micron Technology, Inc. designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It provides memory and storage technologies comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND product...
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