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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 cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- 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 Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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