MU stock chart trend. support and resistant and price production for tomorrow


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Micron Technology (MU) stock exhibits a bullish trend with strong support and resistance levels. Here's a detailed analysis:
- Trend Analysis:
- The stock's 5-day average is $127.96, and the 12-day average is $128.551, indicating a short-term upward trend.
- The 50-day average is $121.35, and the 100-day average is $105.821, suggesting a longer-term upward trend.
- The Moving Average Convergence Divergence (MACD) is positive at 127.96, with a 3.38 difference1, indicating bullish momentum.
MU MACD
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Support and Resistance Levels:
- The 1-month low is at $127.272, which could act as a strong support level.
- The 38.2% retracement from the previous high is at $125.512, providing additional support.
- The stock has a Pivot Point 2nd Support Point at $126.992, and a 3rd Support Level at $123.083, both of which are below the current price, indicating a strong support base.
- Resistance levels are at $135.523 and $145.661, with the 1st Resistance Point at $129.303 and the 2nd at $136.991.
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Price Production for Tomorrow:
- The stock's technical indicators suggest a bullish sentiment, with a Relative Strength Index (RSI) of 621, indicating that the stock might rise.
- The Fear & Greed Index is at 39 (Fear), which could imply that the stock is undervalued4.
- The stock forecast for tomorrow is $130.17, representing a -1.09% loss4, but the overall trend and support levels suggest that this is a conservative estimate.
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Conclusion:
- The combination of bullish technical indicators and strong support levels suggests that MU stock is likely to continue its upward trend.
- However, caution should be exercised as the stock is trading near its 1-month low, and there is a potential for a short-term pullback.
- Investors should consider buying opportunities near the current support levels, with a view on the longer-term upward trend.
Source:
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Micron Technology, Inc. MU Support Resistance charts ...
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