The Range Is Tightening in Micron Technology

New York, February 13th (TradersHuddle.com) - Shares of Micron Technology, Inc. (NASDAQ:MU) closed the trading session at $7.92 with its price action in a very tight range, given that calculated support is set at $7.63 and the calculated resistance is set at $8.06.

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

Micron's stock price action indicates that both sellers and buyers are materializing very close to each other. This signals an area where momentum is building, since the stock can resolve by breaking out of the developing tight range.

Traders wanting to establish a position should pay close attention to Micron's price action, as any movement outside its predefined range of $7.63 and $8.06 could grasp the attention of momentum buyers that look for a big movement in the price of the stock. Traders need to be aware that tight range resolution works both ways, hence, a move below support could spark above the average selling. A tiered approach could be the best way to start a position; enter into it while the stock is in the tight range, and then add to this position as it breaks and closes above resistance.



Related Articles

    Related Partner Headlines

      Real Money Pro from TheStreet: Headlined by legendary hedge fund manager Doug Kass, our team of market technicians and professional traders hand you unique perspectives and breakthrough investment opportunities. Access this exciting service -- Real Money Pro -- FREE, right now!

      TradersHuddle Search

      Stock Search:


      Site Search:

      Loading

      Technical Scans

      Stock Market

      Loading
      Chart
      o Dow Jones 18,511.17 ▲37.42 (0.20%)
      o S&P 500 2,169.75 ▲0.57 (0.03%)
      o NASDAQ 5,145.88 ▲35.83 (0.70%)
      INDEXDJX:.DJI

      Dow Jones

      Company ID [INDEXDJX:.DJI] Last trade:18,511.17 Trade time:3:13PM EDT Value change:▲37.42 (0.20%)
      INDEXSP:.INX

      S&P 500

      Company ID [INDEXSP:.INX] Last trade:2,169.75 Trade time:3:13PM EDT Value change:▲0.57 (0.03%)
      INDEXNASDAQ:.IXIC

      NASDAQ

      Company ID [INDEXNASDAQ:.IXIC] Last trade:5,145.88 Trade time:3:13PM EDT Value change:▲35.83 (0.70%)

      In The Wires

      Copyright © 2013 TradersHuddle.com. All Rights Reserved.