Interactive Investor

Here's why Micron Technology is worth watching

Micron Technology shares have made progress recently, prompting our chartist to examine their potential.

20th March 2019 10:19

Alistair Strang from Trends and Targets

Micron Technology shares have made progress recently, prompting our chartist to examine their potential.

Micron Technology (NASDAQ:MU)

The Micron Technology (NASDAQ:MU) share price is showing some potential. At the time of writing, it is trading around $40.37 and needs only to exceed $42.32 to better the blue line on the chart, the downtrend from May last year.

An event such as this calculates with the potential of continued growth to an initial $46.33 and better still, if exceeded it allows $52.23 to make a guest appearance as a potential high.
 
Visually, the secondary ambition is interesting, matching a high from last year.

It looks very possible some sort of glass ceiling awaits, should our calculation of $52.23 be met. In addition, it would make a longer term $63.8 a viable target, meeting the all time high from last year!
 
For now, it appears worth watching in the days ahead. The price currently requires trade below $33.25 to cause a loss of interest in its longer-term potential.

Source: Trends and Targets      Past performance is not a guide to future performance

Alistair Strang has led high-profile and "top secret" software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know "how it worked" with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.

Alistair Strang is a freelance contributor and not a direct employee of Interactive Investor. All correspondence is with Alistair Strang, who for these purposes is deemed a third-party supplier. Buying, selling and investing in shares is not without risk. Market and company movement will affect your performance and you may get back less than you invest. Neither Alistair Strang, or interactive investor will be responsible for any losses that may be incurred as a result of following a trading idea. 

Alistair Strang has led high-profile and "top secret" software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know "how it worked" with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.

Alistair Strang is a freelance contributor and not a direct employee of Interactive Investor. All correspondence is with Alistair Strang, who for these purposes is deemed a third-party supplier. Buying, selling and investing in shares is not without risk. Market and company movement will affect your performance and you may get back less than you invest. Neither Alistair Strang or Interactive Investor will be responsible for any losses that may be incurred as a result of following a trading idea. 

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