Micron Stock Forecast
Evaluation of Micron stock downgraded after the last trading session.
(Updated on Apr 25, 2024)
The stock lies in the lower part of a very 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 $109.68 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 47.65% during the next 3 months and, with a 90% probability hold a price between $161.94 and $206.18 at the end of this 3-month period.
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MU Signals & Forecast
There are mixed signals in the stock today. The Micron stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $111.66. On a fall, the stock will find some support from the short-term average at $111.42. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -12.83%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Micron stock
Micron finds support from accumulated volume at $110.21 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 $4.98 between high and low, or 4.61%. For the last week, the stock has had daily average volatility of 4.17%.
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 Friday 26th
For the upcoming trading day on Friday, 26th we expect Micron Technology to open at $110.91, and during the day (based on 14 day Average True Range), to move between $106.49 and $116.67, which gives a possible trading interval of +/-$5.09 (+/-4.56%) up or down from last closing price. If Micron Technology takes out the full calculated possible swing range there will be an estimated 9.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $110.21 (1.23%) than the resistance at $117.13 (4.97%), 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?
Micron holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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 Buy to a Sell candidate.
Current score: -2.860 Sell Candidate Downgraded
Predicted Opening Price for Micron Technology of Friday, April 26, 2024
Fair opening price April 26, 2024 | Current price |
---|---|
$110.91 ( 0.604%) | $111.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MU
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 115.89 | 3.86 % | |
R2 | 113.98 | 2.15 % | ||
R1 | 112.81 | 1.10 % | ||
Current price: | 111.58 | |||
Support | S1 | 109.00 | -2.31 % | |
S2 | 107.83 | -3.36 % | ||
S3 | 105.93 | -5.07 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 124.30 | 11.40 % | |
R2 | 118.80 | 6.47 % | ||
R1 | 117.13 | 4.97 % | ||
Current price | 111.58 | |||
Support | S1 | 110.21 | -1.23% | |
S2 | 109.85 | -1.55% | ||
S3 | 106.77 | -4.31% |
MU Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 28, 2024 | Mar 28, 2024 | Apr 16, 2024 | $0.115 | 0.0944% |
2 | Dec 20, 2023 | Jan 02, 2024 | Jan 18, 2024 | $0.115 | 0.136% |
3 | Dec 20, 2023 | Dec 29, 2023 | Jan 18, 2024 | $0.115 | 0.136% |
4 | Sep 27, 2023 | Oct 06, 2023 | Oct 25, 2023 | $0.115 | 0.173% |
5 | Jun 28, 2023 | Jul 07, 2023 | Jul 25, 2023 | $0.115 | 0.175% |
FAQ
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