Micron Technology Stock Forecast: Buy, Sell, or Hold Mu Stock?
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Micron Technology stock price is currently trading at $68.21 with a gain of 0.40% in the last 24 hours with a current market cap of $74.711 Billion. -
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Technical indicators highlight the consolidation phase of Micron Technology stock. -
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Micron Technology’s stock price has been consolidating inside the horizontal price range of $72.12 and $62.15 over the daily time frame chart.
MU stock price prediction suggests bears and bulls are yet to gain a proper grasp on the trend. Investors might prefer to wait for a confluence of multiple technical indicators in order to decide the direction of the trend. There is a slight increase in the number of green volume candles which suggests the MU price is attracting buyers at the demand zone.
Investor sentiments regarding the Micron Technology price are indecisive at present and may remain negative unless the buyers start stepping into the price action with substantial momentum. However, according to the technical indicators and price action, the odds are lining in the bull’s favor.
Micron Technology stock price needs to attract buyers to surge towards the upper trendline of the consolidation phase over the daily time frame chart. Meanwhile, the Micron Technology share price is trying to gather support and surge towards 20, 50, 100, and 200-day daily moving averages. Micron Technology shares have been consolidating inside the horizontal price range of $72.12 and $62.15.
Nevertheless, Micron Technology stock price declined by around 3.86% in a week. Also, the MU stock price gained around 0.55% in the last three months, and gained 13.02% over the last six months. Aditionally, the returns are 34.91% year to date. However, analysts believe that the share price may bounce back from the lower levels.
Micron Technology Stock Price Has Been Consolidating Inside the Price Range
Micron Technology stock price must initiate its recovery rally to reach the upper threshold of the consolidation phase. However, Micron Technology shares need to accumulate buyers in order to surge towards its recovery phase. Meanwhile, the Micron Technology share price has slipped below the 20, 50, 100, and 200-day daily moving averages.
Moreover, Micron Technology shares must register its breakout from the consolidation phase over the daily time frame chart. MU stock price has lost 3.86% in a week indicating current weakness.
Technical indicators highlight the consolidation phase of the Micron Technology stock price. Relative strength index (RSI) showcases the sideways momentum of Micron Technology shares. RSI was at 48 and is heading towards the oversold territory.
MACD exhibits the consolidation phase of the Micron Technology share price. The MACD line is flat above the signal line waiting for a crossover. Investors in Micron Technology stock need to wait for any directional change over the daily time frame chart.
Summary
On the daily time frame chart, the MU stock price has been consolidating between the horizontal price bands of $72.12 and $62.15 per share. However, in order to accelerate towards its recovery phase, Micron Technology shares must amass purchasers. Technical indicators highlight price consolidation for the MU stock. Investors in Micron Technology stock must watch the daily time frame chart for any directional changes. However, investors and traders should wait for a proper setup for the next move and avoid FOMO.
Technical Levels
- Support Levels: $66.24 and $64.47
- Resistance Levels: $72.12 and $80.00
Disclaimer
The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in stock involves risk. Please assess your situation and risk tolerance before making any investment decisions.
