9/13/2017 – Micron Technologies (MU) & The Energizer Bunny
If you have ever seen a commercial for Energizer Batteries, it most likely included a pink rabbit. The rabbit uses Energizer Batteries for its power supply. It uses the power to keep beating a drum as the commercial voice-over states "Energizer batteries keep going, and going, and going.....it kind of reminds me of the share price for Micron Technologies (MU).
I last wrote about Micron Technologies (MU) back in June. The previous article can be quickly accessed here:
In the article, I noted that Micron's share price was seeing some resistance in its uptrend. Based on the resistance, I stated:
The confluence of Target Lines from the Fibonacci Extension Tools provide for some resistance at the current share price levels. If MU's share price does see resistance and pulls back a little further, a good support area to purchase shares is around the $25.50 - $26.50 price area.
Let's see how that recommendation fared.
Micron Technologies (MU)
This first chart for Micron Technologies (MU) is a 2 year weekly candlestick chart. I left the gray shaded box from my June Micron Technologies (MU) update.
During the week of August 7, 2017, MU's share price pulled back as I anticipated in the June article. However it only hit a low of $26.85 and missed the top end of my range by $0.35, not too bad.
For some of the newer members, the gray shaded box on most charts I publish represents where I think the best scale-in purchase area will be during that stock's pullback or anticipated pullback.
Now that Micron Technologies has rebounded from the scale-in purchase area, it's time to re-calculate upside price targets.…...
If you want to continue reading this article for Micron Technologies (MU), you must first login.
I review upside price targets for Micron's current uptrend. Remember, it's only a gain when you sell and the cash is in the account. Knowing prices to sell at can give you an advantage over the average investor.
If you are not a Trendy Stock Charts member, consider joining today! There are several different subscription plans available.