MICRON TECHNOLOGY INC. - 1H - Technical analysis published on 03/21/2024 (GMT)
- 95
- 0
- Timeframe : 1H
- - Analysis generated on
- Status : WITHOUT TARGET
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
94%
0%
6%
My opinion
Bullish above 104.27 USD
My targets
-
My analysis
MICRON TECHNOLOGY INC. is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 104.27 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.8
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The MICRON TECHNOLOGY INC. price is 110.89 USD. The price has increased by +15.21% since the last closing with the lowest point at 108.78 USD and the highest point at 113.50 USD. The deviation from the price is +1.94% for the low point and -2.30% for the high point.108.78
113.50
110.89
The Central Gaps scanner detects the formation of a bullish gap marking the strong presence of buyers against sellers at the opening. This formed a quotation gap.
Opening Gap UP
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by MICRON TECHNOLOGY INC.:
New HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of MICRON TECHNOLOGY INC. indicates that the overall trend is strongly bullish. 89.29% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The probability of a further increase is high given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is overbought : over 80
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
Price
| S3 | S2 | S1 | Price | |
|---|---|---|---|---|
| ProTrendLines | 95.89 | 98.98 | 101.85 | 110.89 |
| Change (%) | -13.53% | -10.74% | -8.15% | - |
| Change | -15.00 | -11.91 | -9.04 | - |
| Level | Major | Major | Intermediate | - |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 91.24 | 92.42 | 94.33 | 95.51 | 97.42 | 98.60 | 100.51 |
| Camarilla | 95.40 | 95.68 | 95.97 | 96.25 | 96.53 | 96.82 | 97.10 |
| Woodie | 91.62 | 92.60 | 94.71 | 95.69 | 97.80 | 98.78 | 100.89 |
| Fibonacci | 92.42 | 93.60 | 94.33 | 95.51 | 96.69 | 97.42 | 98.60 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 82.67 | 86.48 | 89.87 | 93.68 | 97.07 | 100.88 | 104.27 |
| Camarilla | 91.27 | 91.93 | 92.59 | 93.25 | 93.91 | 94.57 | 95.23 |
| Woodie | 82.45 | 86.38 | 89.65 | 93.58 | 96.85 | 100.78 | 104.05 |
| Fibonacci | 86.48 | 89.23 | 90.93 | 93.68 | 96.43 | 98.13 | 100.88 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 68.66 | 73.90 | 82.26 | 87.50 | 95.86 | 101.10 | 109.46 |
| Camarilla | 86.87 | 88.12 | 89.36 | 90.61 | 91.86 | 93.10 | 94.35 |
| Woodie | 70.21 | 74.68 | 83.81 | 88.28 | 97.41 | 101.88 | 111.01 |
| Fibonacci | 73.90 | 79.10 | 82.31 | 87.50 | 92.70 | 95.91 | 101.10 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 89.02 | |
| MACD (12,26,9): | 3.4600 | |
| Directional Movement: | 57.78 | |
| AROON (14): | 85.71 | |
| DEMA (21): | 102.35 | |
| Parabolic SAR (0,02-0,02-0,2): | 92.87 | |
| Elder Ray (13): | 11.33 | |
| Super Trend (3,10): | 104.77 | |
| Zig ZAG (10): | 112.18 | |
| VORTEX (21): | 1.1300 | |
| Stochastique (14,3,5): | 90.18 | |
| TEMA (21): | 105.56 | |
| Williams %R (14): | -6.41 | |
| Chande Momentum Oscillator (20): | 18.25 | |
| Repulse (5,40,3): | 1.0600 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1900 | |
| Courbe Coppock: | 21.05 |
| MA7: | 96.46 | |
| MA20: | 94.60 | |
| MA50: | 88.82 | |
| MA100: | 83.17 | |
| MAexp7: | 104.58 | |
| MAexp20: | 98.71 | |
| MAexp50: | 96.10 | |
| MAexp100: | 94.54 | |
| Price / MA7: | +14.96% | |
| Price / MA20: | +17.22% | |
| Price / MA50: | +24.85% | |
| Price / MA100: | +33.33% | |
| Price / MAexp7: | +6.03% | |
| Price / MAexp20: | +12.34% | |
| Price / MAexp50: | +15.39% | |
| Price / MAexp100: | +17.29% |
Quotes :
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15 min delayed data
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NASDAQ Stocks
News
The latest news and videos published on MICRON TECHNOLOGY INC. at the time of the analysis were as follows:
-
Is Micron a stock to watch? #stocks #micron #financialindustry
- Thinking about trading options or stock in Amazon.com, Micron Technology, JPMorgan Chase, Vale, or Lithium Americas?
- Thinking about trading options or stock in Tesla, Palantir Technologies, Micron Technology nc, Alphabet, or Meta Platforms?
- Thinking about trading options or stock in NVIDIA, Alphabet Inc, Amazon, Apple, or Micron Technology?
- Thinking about trading options or stock in Walmart, Micron Technology, Apple, Unity Software, or Aaron's Company?
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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