正文
Possible Bullish Engulfing Pattern Detected for Micron Technology (NYSE:MU)
Published on Tue, 09/06/2011 - 14:11
By Robert Cotter in Candlestick, MU, bullish engulfing candle, micron technology, nyse:mu
Analysts have spotted a possible bullish engulfing pattern in Micron Technology (NYSE:MU) based on the price action in the company’s shares. Thus far today, Micron Technology has traded 18.2 million shares, vs. average volume of 38.3 million shares per day. The company traded 22.7 million shares yesterday. Heavy volume increases the reliability of this bullish candlestick pattern.
Micron Technology share prices have moved between a 52-week high of $11.95 and a 52-week low of $5.18 and are now trading 9% above that low price at $5.67 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 3.2% while the 200-day MA has slid 0.4%.
Micron Technology, Inc., through its subsidiaries, manufactures and markets dynamic random access memory chips (DRAMs), very fast static random access memory chips (SRAMs), Flash Memory, other semiconductor components, and memory modules.
Micron Technology (NYSE:MU) has a potential upside of 80.1% based on a current price of $5.67 and analysts\' consensus price target of $10.20. The stock should find initial resistance at its 50-day moving average (MA) of $6.78 and further resistance at its 200-day MA of $9.05.
By Robert Cotter
Published on Tue, 09/06/2011 - 14:11
By Robert Cotter in Candlestick, MU, bullish engulfing candle, micron technology, nyse:mu
Analysts have spotted a possible bullish engulfing pattern in Micron Technology (NYSE:MU) based on the price action in the company’s shares. Thus far today, Micron Technology has traded 18.2 million shares, vs. average volume of 38.3 million shares per day. The company traded 22.7 million shares yesterday. Heavy volume increases the reliability of this bullish candlestick pattern.
Micron Technology share prices have moved between a 52-week high of $11.95 and a 52-week low of $5.18 and are now trading 9% above that low price at $5.67 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 3.2% while the 200-day MA has slid 0.4%.
Micron Technology, Inc., through its subsidiaries, manufactures and markets dynamic random access memory chips (DRAMs), very fast static random access memory chips (SRAMs), Flash Memory, other semiconductor components, and memory modules.
Micron Technology (NYSE:MU) has a potential upside of 80.1% based on a current price of $5.67 and analysts\' consensus price target of $10.20. The stock should find initial resistance at its 50-day moving average (MA) of $6.78 and further resistance at its 200-day MA of $9.05.
By Robert Cotter
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