MU drops to lowest close since May 9th
Moving lower for the 2nd day in a row, MU finished the week -2.73% lower at 51.37 after losing $0.89 (-1.7%) today. Today's closing price of 51.37 marks the lowest close since May 9th. Closing below Thursday's low at 51.93, the stock confirms its breakout through the previous session's low having traded $0.91 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Friday's trading range was $0.93 (1.81%), that's far below last trading month's daily average range of $1.48. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.
Prices are trading close to the key resistance level at 52.22.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Further selling could move prices lower should the market test July's nearby low at 50.10.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for Micron Technology
|Down Close Near Low of Period||TQ Pro Members Only|
|Closed below last periods low||TQ Pro Members Only|
|6 Consecutive Lower Closes||TQ Pro Members Only|
|Low close to previous low||TQ Pro Members Only|
|Black Candle||TQ Pro Members Only|
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