Is Micron Technology Breaking Out?

New York, November 30th (TradersHuddle.com) - Shares of Micron Technology, Inc. (NASDAQ:MU) closed the session at $5.91 just above calculated resistance at $5.79. The stock moved to what appears to be a higher range, spurring attention from momentum buyers.

Micron Technology, Inc. (NASDAQ:MU) manufactures and markets dynamic random access memory chips (DRAMs), Flash Memory, other semiconductor components, and memory modules.

The stock was trading in a well defined range with support at $5.33 and resistance at $5.79. Given that this range was broken, traders will be closely monitoring Micron's price action to gather clues on the future direction.

From a technical perspective, it can be expected that previous resistance becomes support, as the new range gets defined. However, given that Micron Technology is still near the broken resistance level, traders will be focusing on the $5.79 level to see if the stock holds the breakout without rolling over.

Note - Automated Content Created By TradersHuddle's Technical Scanner




Related Partner Headlines

    Volatile market? That's when profit potential skyrockets for options traders. Now you can get up to 50 trade opportunities a week from top options experts -- plus much more -- on our exciting new site OptionsProfits. Try it FREE!

    TradersHuddle Search

    Stock Search:


    Site Search:

    Loading

    Technical Scans

    Recent Trading Ideas

    Latest Partner Headlines

    Stock Market

    Loading
    Chart
    o Dow Jones 17,750.91 ▼140.25 (-0.78%)
    o S&P 500 2,063.37 ▼18.06 (-0.87%)
    o NASDAQ 4,763.22 ▼54.37 (-1.13%)
    INDEXDJX:.DJI

    Dow Jones

    Company ID [INDEXDJX:.DJI] Last trade:17,750.91 Trade time:4:30PM EDT Value change:▼140.25 (-0.78%)
    INDEXSP:.INX

    S&P 500

    Company ID [INDEXSP:.INX] Last trade:2,063.37 Trade time:4:30PM EDT Value change:▼18.06 (-0.87%)
    INDEXNASDAQ:.IXIC

    NASDAQ

    Company ID [INDEXNASDAQ:.IXIC] Last trade:4,763.22 Trade time:5:15PM EDT Value change:▼54.37 (-1.13%)

    In The Wires

    Copyright © 2013 TradersHuddle.com. All Rights Reserved.