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Micron Technology - Barchart's Chart Of The Day

|Includes: Micron Technology Inc. (MU)

The Chart of the Day is Micron Technology (NASDAQ:MU). The stock has had a steady string of Trend Spotter buy signals and still has a 96% technical buy signals and a 72.81% Relative Strength Index. The stock was found from sorting the New High List for frequency.

The company has established itself as a worldwide provider of semiconductor memory solutions. The company's memory solutions serve customers in a variety of industries including computer and computer-peripheral manufacturing, consumer electronics, CAD/CAM, telecommunications, office automation, network and data processing, and graphics display.

Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

  • 96% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 15 new high and up 24.82% in the last month
  • Relative Strength Index 72.81%
  • Barchart computes a technical support level at 11.47
  • Recently traded at 12.02 with a 50 day moving average of 10.23


Fundamental factors:

 

  • Market Cap $12.28 billion
  • Revenue projected to be up 4.30% this year and another 17.20% next year
  • Earnings are estimated to increase 58.70% this year, an additional 251.20% next year and continue to grow annually by 14.37% for the next 5 years
  • Wall Street analysts issued 14 strong buy, 1 buy, 7 hold and 2 sell recommendations
  • Financial Strength C++


Since the stock is up 115% in the past year watch its momentum closely and exit if it drops below its 50 day moving average.