$MU Climbs 5.6% Momentum Builds Near 412
$Micron Technology(MU)$
Micron Technology (MU) Surges +5.55%: Strong Bounce from Support, Eyeing $412 Resistance
Latest Close Data:
Micron closed at $400.77 on Mar 4, up 5.55% (+$21.09). The stock is now within ~12% of its 52-week high of $455.50.
Core Market Drivers:
-
The strong rebound follows a period of consolidation.
-
While no specific news is cited today, the memory chip sector remains driven by long-term demand trends in AI, data centers, and cyclical recovery expectations.
-
Net capital flow for the day was positive ($800M), indicating buying interest.
Technical Analysis:
-
Volume was solid at 32.7M shares (Volume Ratio 1.02).
-
The 6-day RSI jumped from an oversold 26.1 to 45.2, signaling a recovery in momentum.
-
However, the MACD remains negative (-11.35), indicating the broader trend is still in a corrective phase, though the DIF line is attempting to stabilize.
Key Price Levels:
-
Primary Support: $379.46 (recent low, tested successfully).
-
Strong Resistance: $412.46 (key level to watch for a breakout).
-
Immediate Pivot: ~$400 (current price acts as a pivot for next move).
Valuation Perspective:
TTM P/E is 38.0, while the Forward P/E is 11.0, suggesting the market is pricing in significant future earnings growth, which is typical for the cyclical semiconductor sector.
Analyst Targets:
Sentiment is overwhelmingly bullish. 41 analysts cover MU, with 14 Strong Buys and 27 Buys. The average price target is $382.69, though the stock is currently trading above this level.
Weekly Outlook:
Expect consolidation between $387 and $412 in the near term. A decisive break above $412 resistance could target the $430-$440 zone. A failure to hold $387 may see a retest of the $379 support.
For SG users only, Welcome to open a CBA today and enjoy access to a trading limit of up to SGD 20,000 with unlimited trading on SG, HK, and US stocks, as well as ETFs.
🎉Cash Boost Account Now Supports 35,000+ Stocks & ETFs – Greater Flexibility Now
Find out more here.
Complete your first Cash Boost Account trade with a trade amount of ≥ SGD1000* to get SGD 688 stock vouchers*! The trade can be executed using any payment type available under the Cash Boost Account: Cash, CPF, SRS, or CDP.
Other helpful links:
-
💰Join the TB Contra Telegram Group to Get $10 Trading Vouchers Now🎉
-
How to open a CBA. How to link your CDP account. Other FAQs on CBA. Cash Boost Account Website.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
