This Is Why Micron Technology Is A Strong Short

Published 03/06/2018, 11:47 PM
Updated 07/09/2023, 06:31 AM

Shares of Micron Technology, Inc. (NASDAQ:MU) surged again on Tuesday, hitting a new all-time high of $54.64. This surge tagged a massive trend line that stretches back to the top in 2009 and the top in 2014. When connecting those pivot highs, the trend line extends all the way out to $54.50, the level tagged on Tuesday. After each pivot high in 2009 and 2014, Micron Technology, Inc. corrected 50%. That means another monster correction is likely at hand. Look for the stock to collapse as low as $27.00 in the next 12 months.

MU Monthly Chart

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