MU drops to lowest close since May 9th


Micron Technology (MU) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
MU closes lower for the 2nd day in a row
MU breaks below previous session low
MU falls to lowest close since May 9th
MU ends the day indecisive
TQ Sentiment
Report Sentiment: 40% Bearish
Technical Forecast:
Overview

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.

Daily chart for MU
Volatility

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.

Support/Resistance

Prices are trading close to the key resistance level at 52.22.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Order Flow

Further selling could move prices lower should the market test July's nearby low at 50.10.

Conclusion

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
Condition Forecast Direction Win Avg Worst Best Events
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
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Micron Technology traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup
Stocks Top Movers
ETHUSD 285.726.43 2.30%
INDU 25,558.73396.32 1.58%
CRUDE 65.450.55 0.85%
CAC 5,349.0243.80 0.83%
SPX 2,840.6922.32 0.79%
DXY 96.535-0.045 -0.05%
GOLD 1,181.0-0.8 -0.07%
NATGAS 2.911-0.028 -0.95%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV98.22 0.77
0.79%
ACN 10 day candlestick chart for ACN162.89 2.48
1.55%
ADBE 10 day candlestick chart for ADBE248.89 -1.63
-0.65%
AAP 10 day candlestick chart for AAP159.49 1.46
0.92%
AES 10 day candlestick chart for AES13.87 0.38
2.82%
AET 10 day candlestick chart for AET198.47 1.18
0.60%
AFL 10 day candlestick chart for AFL46.50 0.21
0.45%
AMG 10 day candlestick chart for AMG146.29 0.86
0.59%
A 10 day candlestick chart for A65.50 0.77
1.19%
ABT 10 day candlestick chart for ABT64.16 0.69
1.09%