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Micron Technology (MU) Crosses Pivot Point Resistance at $6.43
[January 02, 2013]

Micron Technology (MU) Crosses Pivot Point Resistance at $6.43

Jan 02, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of Micron Technology (NASDAQ:MU) opened today above their pivot of $6.27 and have already reached the first level of resistance at $6.43. Analysts will be watching for a cross of the next upside pivot targets of $6.52 and $6.77.

In the past 52 weeks, shares of Micron Technology have traded between a low of $5.56 and a high of $8.09 and are now at $6.53, which is 17% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has advanced 0.7%.

Potential upside of 37.9% exists for Micron Technology, based on a current level of $6.53 and analysts' average consensus price target of $9.00. The stock should discover initial support at its 200-day moving average (MA) of $6.33 and subsequent support at its 50-day MA of $5.96.

SmarTrend recommended that subscribers consider buying shares of Micron Technology on December 5th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $6.11. Since that recommendation, shares of Micron Technology have risen 3.8%. 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 --------------------------------------------------------------------------------------------- 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 Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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