, storage chips (NAND flash memory), and different parts for computers.){kind=link}
· MU share is following an uptrend.
· The share price has advanced by more than 19.00% in the last six months.
· Micron Technology at a CMP of $70.71.
Micron is famous all over the world for making things like computer memory (DRAM), storage chips (NAND flash memory), and different parts for computers.
The share price is advancing from the lower levels, trading inside a rising wedge pattern following the same price consistently advancing.
Financial Data of Micron Technology Inc. (NASDAQ: MU)
The stock of MU, with a total share float of 1.095 billion, is presently valued at $70.92 per share. Additionally, MU offers dividends to its shareholders, and the company’s dividend yield for the year 2022 is 0.65%.
The company seems to be doing well financially because it earned $30.76 billion in 2022, more than last year. Their profit margin is 28.24%, showing they’re making a good profit on their earnings. They did take on some additional debt, about $7.58 billion for 2022, but they also have $3.11 billion in cash they can use freely.
Upon reviewing technical indicators, it becomes clear that the stock is displaying bullish tendencies. Among the 26 indicators examined, most indicate a “buy” recommendation, with only a few indicating a “sell” recommendation.
Micron Technology Inc. (MU) Technical Analysis
mu by writer50_tcr on TradingView.com
Micron Technology Inc. (MU) is presently demonstrating strength in its weekly chart analysis. The stock is trading above the 50-day and 200-day Exponential Moving Averages (EMA), a typically bullish signal that positively influences the stock’s outlook.
In addition, the MACD line for Micron Technology’s stock is trading below the signal line. This is a weak signal, and the price will likely decline in the future.
Conclusion
As per the analysis, it’s clear that Micron Technology, Inc. (NASDAQ: MU) has seen a notable increase in its stock price from lower levels, surging by 36.00% over the past twelve months. Furthermore, the RSI and EMA indicators for MU stock show bullish signals. This indicates that MU’s current price trend is robust, and there’s a likelihood of it reaching new highs in the coming days.
Technical Levels
· Support Level: $63.00
· Resistance Level: $74.00
Disclaimer
The views and opinions of the author, or anyone named in this article, are for informational purposes only. They do not offer financial, investment, or other advice. Investing or trading crypto assets involves the risk of financial loss.
Dr. Naveen Singh is an entrepreneur with achievements in sports, academics, healthcare, innovation, blockchain technology, telecommunications, and philanthropy. He is the Co-Founder and Chief Executive Officer (CEO) of Inery, the first layer-1 blockchain programmed for database management. With Inery, he aligns with his vision of a new paradigm for data to empower web3 and complete decentralization.