Micron Technology (MU) is testing support with a consolidation over the last four weeks. Support in the 8.25-8.5 area stems from the February lows. The stock has been trading between 8.25 and 9.5 since May 10th. Also notice that the Bollinger Bands are narrowing. Look for a consolidation break to trigger the next directional move.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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