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SmarTrend Watching for Potential Pullback in Shares of Micron Technology After 6.24% Gain
Feb 14, 2012 (SmarTrend(R) News Watch via COMTEX) --
Micron Technology (NYSE:MU) traded in a range yesterday that spanned from a low of $7.92 to a high of $8.36. Yesterday, the shares gained 6.2%, which took the trading range above the 3-day high of $8.20 on volume of 40.9 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, shares of Micron Technology have traded between a low of $3.97 and a high of $11.95 and are now at $8.34, which is 110% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has advanced 2.0%.
SmarTrend recommended that subscribers consider buying shares of Micron Technology on October 14th, 2011 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $5.57. Since that recommendation, shares of Micron Technology have risen 40.9%. We continue to monitor MU for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Write to Chip Brian at cbrian@mysmartrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com
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