MICRON TECHNOLOGY INC. - 1H - Technical analysis published on 06/11/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
61%
6%
33%
My opinion
Bullish above 133.26 USD
My targets
139.06 USD (+3.18%)
143.99 USD (+6.84%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on MICRON TECHNOLOGY INC. as long as the price remains well above 133.26 USD. The buyers' bullish objective is set at 139.06 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 143.99 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
7.9
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The MICRON TECHNOLOGY INC. rating is 134.77 USD. The price is lower by -0.04% since the last closing with the lowest point at 133.05 USD and the highest point at 135.49 USD. The deviation from the price is +1.29% for the low point and -0.53% for the high point.133.05
135.49
134.77
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
New HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of MICRON TECHNOLOGY INC. indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, according to the parameters integrated into the Central Analyzer system, 11 technical indicators out of 18 analysed are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
Price
| S3 | S2 | S1 | Price | |
|---|---|---|---|---|
| ProTrendLines | 128.01 | 130.18 | 133.26 | 134.77 |
| Change (%) | -5.02% | -3.41% | -1.12% | - |
| Change | -6.76 | -4.59 | -1.51 | - |
| Level | Major | Minor | Intermediate | - |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 125.18 | 127.45 | 131.13 | 133.40 | 137.08 | 139.35 | 143.03 |
| Camarilla | 133.18 | 133.73 | 134.28 | 134.82 | 135.37 | 135.91 | 136.46 |
| Woodie | 125.90 | 127.80 | 131.85 | 133.75 | 137.80 | 139.70 | 143.75 |
| Fibonacci | 127.45 | 129.72 | 131.12 | 133.40 | 135.67 | 137.07 | 139.35 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 117.02 | 121.08 | 126.01 | 130.07 | 135.00 | 139.06 | 143.99 |
| Camarilla | 128.47 | 129.29 | 130.12 | 130.94 | 131.76 | 132.59 | 133.41 |
| Woodie | 117.46 | 121.30 | 126.45 | 130.29 | 135.44 | 139.28 | 144.43 |
| Fibonacci | 121.08 | 124.51 | 126.64 | 130.07 | 133.50 | 135.63 | 139.06 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 86.85 | 97.80 | 111.40 | 122.35 | 135.95 | 146.90 | 160.50 |
| Camarilla | 118.25 | 120.50 | 122.75 | 125.00 | 127.25 | 129.50 | 131.75 |
| Woodie | 88.18 | 98.46 | 112.73 | 123.01 | 137.28 | 147.56 | 161.83 |
| Fibonacci | 97.80 | 107.18 | 112.97 | 122.35 | 131.73 | 137.52 | 146.90 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 62.34 | |
| MACD (12,26,9): | 1.3800 | |
| Directional Movement: | 5.81 | |
| AROON (14): | 42.85 | |
| DEMA (21): | 134.59 | |
| Parabolic SAR (0,02-0,02-0,2): | 131.94 | |
| Elder Ray (13): | 0.66 | |
| Super Trend (3,10): | 130.75 | |
| Zig ZAG (10): | 134.75 | |
| VORTEX (21): | 1.1300 | |
| Stochastique (14,3,5): | 76.01 | |
| TEMA (21): | 135.04 | |
| Williams %R (14): | -18.32 | |
| Chande Momentum Oscillator (20): | 2.45 | |
| Repulse (5,40,3): | -0.1200 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1500 | |
| Courbe Coppock: | 5.45 |
| MA7: | 131.27 | |
| MA20: | 128.95 | |
| MA50: | 122.36 | |
| MA100: | 107.59 | |
| MAexp7: | 134.11 | |
| MAexp20: | 132.80 | |
| MAexp50: | 130.83 | |
| MAexp100: | 128.86 | |
| Price / MA7: | +2.67% | |
| Price / MA20: | +4.51% | |
| Price / MA50: | +10.14% | |
| Price / MA100: | +25.26% | |
| Price / MAexp7: | +0.49% | |
| Price / MAexp20: | +1.48% | |
| Price / MAexp50: | +3.01% | |
| Price / MAexp100: | +4.59% |
Quotes :
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15 min delayed data
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NASDAQ Stocks
News
The latest news and videos published on MICRON TECHNOLOGY INC. at the time of the analysis were as follows:
- Droplet Micron Launches Expanded Indication and OTC Availability
- Thinking about trading options or stock in Micron Technology, Apple, Amazon.com, Palantir Technologies, or Microsoft?
- Thinking about trading options or stock in Super Micro Computer, Micron Technology, Tesla, Microsoft, or Intel?
- Thinking about trading options or stock in Micron Technology, Apple, PayPal, Super Micro Computer, or GigaCloud Technology?
-
Is Micron a stock to watch? #stocks #micron #financialindustry
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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