Shares of Micron Technology (NASDAQ:MU) continue to under-perform the stock market following sub-par earnings. While most investors clamored to buy north of $60, I continued to warn it was going to fall sharply lower. I was called 'insane' along with other choice epithets, but ultimately Micron fell from over $60 to under $50.
Buy Here
As it breaks that $50 level, I'm starting to get intrigued by a major pivot point at $46.85. Based on multiple technical chart indicators, this is the major buy for a swing-trade bounce. I intend to buy shares here for a snap-back bounce to $54. This is a fantastic level with a high reward for limited risk. Put it on your watch list.
