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Memory Chip Maker Holds Key Level as Market Rebounds: Chart of the Day

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This week was cut short by Independence Day. That makes it a good time to view Micron Technology (MU), which seems to have the spirit of 76.

The memory-chip maker had a false breakdown below that level on January 27. It quickly rebounded and returned to test $76 three times since mid-May. Interestingly, the current bounce is happening near …

For more, please click here to view the related idea and chart analysis on TradingView.

Micron Technology (MU), daily chart with selected patterns, courtesy of TradingView.

About the author

David Russell
David Russell is VP of Market Intelligence at TradeStation Group. Drawing on two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.

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