Trade of the Day – Micron Technology, Inc. (NASDAQ: MU) September 15, 2023 98

Trade of the Day

Micron Technology, Inc. (NASDAQ: MU)

(Current Price: US$71.79) – TECHNICAL BUY

Buy price: US$71.79     Stop loss: US$68.00   
Take profit 1: US$80.00     Take profit 2: US$84.00 



The price broke out of a consolidation wedge, following a bullish higher low build-up range with support level at US$69.50 formed at the trendline resistance earlier, which is a sign of strength.

Should the price continue its momentum, it could first retest a key horizontal level at US$80, which acted as support and resistance from November 2021 to March 2022. The price could then head to the next key resistance level at US$84, which was a previous swing high formed in March 2022, and that also acted as support and resistance from January to March 2022.

Expected timeline of the trade is 4-12 weeks from the date of report issuance.

This counter is available for trading on POEMS US Asian Hours, Singapore’s first platform to provide trading of US Equities during Asian Market opening hours (from 9am SGT). For more information, please click here, or scan below:


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About the author

Profile photo of Zane Aw

Zane Aw
Technical Analyst

I analyze the stock market and conduct technical analysis to provide investment recommendations. I look forward to having a conversation with you in our in-house seminars and presentations to identify good risk-reward trading strategies together. I graduated from Nanyang Technological University with a Bachelor of Accountancy (Honours).

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