MU Week

Micron Technology Inc. (MU) burst through the 13-week and 26-week moving averages with a 13.9% intra-day move and 17% increase in volume.

	trend	adx	psar	pps	macd	macd trend	sto	sto trend
MU (daily) $10.00

Goldman Sachs on Thursday initiated coverage of MU with a buy recommendation and a $12 target. Most of last week's price rise Tuesday and Wednesday, prior to Goldman's announcement

MU has been on an uptrend since mid-November 2008, multiplying its price seven times over, but faltered in late April, correcting by 27% (ignoring the Flash Crash of May 6).

The rise moved Person's Proprietary Signal to bull phase.

Reversal Levels

• $11.40, +14.0%
• $10.14, +1.4%
• $10.00 <== You are here.
• $8.27, -17.3%

MU in typical tech-stock fashion peaked in 2000 at $97.50 and then declined to a third of that in three months. Since then the broad trend has been down.

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Disclaimer

Tim Bovee, Private Trader tracks the trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment. No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decision decisions for his or her own account, and take responsibility for the consequences.

Abbreviations:

• psar - Parabolic Stop and Reverse
• adx - Average Directional Index
• pps - Person's Proprietary Signal
• ma20 - 20-day moving average
• macd - Moving Average Convergence-Divergence
• sto - Fast Stochastic

About the glance: The colors indicate the state of each signal.

• trend: Determined by the 5-day moving average, green for up, red for down, yellow for sideways
• adx: orange for above 30-up, blue for 20-down, purple for in the middle. Red is most prone to whipsaws
• psar, pps, macd: green for bull mode, red for bear
• sto: green for overbought, red for oversold, yellow for the neutral zone.