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Micron Technology Technical Analysis - Micron Technology Trading: 2023-09-29
MU Technical Analysis Summary
Below 63.82
Sell Stop
Above 68.80
Stop Loss
| Indicator | Signal |
| RSI | Buy |
| MACD | Sell |
| Donchian Channel | Sell |
| MA(200) | Sell |
| Fractals | Sell |
| Parabolic SAR | Sell |
MU Chart Analysis
MU Technical Analysis
The technical analysis of the Micron stock price chart on 4-hour timeframe shows #S-MU,H4 fell below the 200-period moving average MA(200) which has leveled off. We believe the bearish momentum will continue after the price breaches below the lower boundary of Donchian channel at 63.82. This level can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 68.80. After placing the order, the stop loss is to be moved every day to the next fractal high indicator, following Parabolic indicator signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (68.80) without reaching the order (63.82), we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Stocks - MU
Micron stock fell after the chipmaker reported better than expected revenue for the fourth quarter. Will the Micron stock price persist retreating?
Micron Technology reported on Wednesday evening better than expected results for Q4: the chip maker reported an adjusted loss of $1.07 a share on revenue of $4.01 billion versus Wall Street expectations of an adjusted loss of $1.15 a share on revenue of $3.93B. The loss was the result of gross margins turning to negative 10.8% from 39.5% a year earlier following a nearly 40% slip in revenue amid weaker demand as companies work through an oversupply of chips built up during the pandemic. Investors were more concerned about downcast guidance: Micron forecast a wider loss next quarter - a loss in the range of $1 to $1.14 a share versus consensus for a loss of $0.92 a share, and revenue of $4.2B to $4.6B versus consensus of $4.22B. Micron Technology stock closed 4.4% lower on Thursday after the report. Expectations of wider losses are bearish for a company stock.
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