MICRON TECHNOLOGY INC. - 1H - Technical analysis published on 04/01/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
83%
6%
11%
My opinion
Bullish above 122.34 USD
My targets
129.05 USD (+1.73%)
135.76 USD (+7.02%)
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 122.34 USD. The next resistance located at 129.05 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 135.76 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.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.6
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
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 126.85 USD. The price registered an increase of +7.60% on the session with the lowest point at 119.00 USD and the highest point at 126.86 USD. The deviation from the price is +6.60% for the low point and -0.01% for the high point.119.00
126.86
126.85
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
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
The Central Volumes scanner detects abnormal volumes on the asset:
Abnormal volumes
Timeframe : 5 days
Technical
Technical analysis of MICRON TECHNOLOGY INC. in 1H shows a strongly overall bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
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 1
Type : Neutral
Timeframe : Weekly
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : 1 hour
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
From the Japanese candlestick perspective, the Central Candlesticks scanner notes the presence of these results that could impact the short-term trend:
Bearish harami
Type : Bearish
Timeframe : 1 hour
Doji
Type : Neutral
Timeframe : 1 hour
Bearish harami cross
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
Price
| S3 | S2 | S1 | Price | |
|---|---|---|---|---|
| ProTrendLines | 106.95 | 117.27 | 122.34 | 126.85 |
| Change (%) | -15.69% | -7.55% | -3.56% | - |
| Change | -19.90 | -9.58 | -4.51 | - |
| Level | Minor | Intermediate | Intermediate | - |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 114.67 | 116.01 | 116.95 | 118.29 | 119.23 | 120.57 | 121.51 |
| Camarilla | 117.26 | 117.47 | 117.68 | 117.89 | 118.10 | 118.31 | 118.52 |
| Woodie | 114.47 | 115.91 | 116.75 | 118.19 | 119.03 | 120.47 | 121.31 |
| Fibonacci | 116.01 | 116.88 | 117.42 | 118.29 | 119.16 | 119.70 | 120.57 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 98.89 | 104.47 | 111.18 | 116.76 | 123.47 | 129.05 | 135.76 |
| Camarilla | 114.51 | 115.64 | 116.76 | 117.89 | 119.02 | 120.14 | 121.27 |
| Woodie | 99.46 | 104.75 | 111.75 | 117.04 | 124.04 | 129.33 | 136.33 |
| Fibonacci | 104.47 | 109.17 | 112.07 | 116.76 | 121.46 | 124.36 | 129.05 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 65.82 | 78.02 | 97.95 | 110.15 | 130.08 | 142.28 | 162.21 |
| Camarilla | 109.05 | 112.00 | 114.95 | 117.89 | 120.84 | 123.78 | 126.73 |
| Woodie | 69.70 | 79.95 | 101.83 | 112.08 | 133.96 | 144.21 | 166.09 |
| Fibonacci | 78.02 | 90.29 | 97.87 | 110.15 | 122.42 | 130.00 | 142.28 |
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): | 76.26 | |
| MACD (12,26,9): | 2.2500 | |
| Directional Movement: | 36.53 | |
| AROON (14): | 50.00 | |
| DEMA (21): | 122.15 | |
| Parabolic SAR (0,02-0,02-0,2): | 117.16 | |
| Elder Ray (13): | 5.46 | |
| Super Trend (3,10): | 119.97 | |
| Zig ZAG (10): | 126.12 | |
| VORTEX (21): | 1.1600 | |
| Stochastique (14,3,5): | 69.37 | |
| TEMA (21): | 121.30 | |
| Williams %R (14): | -14.83 | |
| Chande Momentum Oscillator (20): | 7.47 | |
| Repulse (5,40,3): | 4.2900 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.2400 | |
| Courbe Coppock: | 3.37 |
| MA7: | 116.90 | |
| MA20: | 102.73 | |
| MA50: | 92.86 | |
| MA100: | 86.05 | |
| MAexp7: | 121.40 | |
| MAexp20: | 119.04 | |
| MAexp50: | 113.70 | |
| MAexp100: | 107.16 | |
| Price / MA7: | +8.51% | |
| Price / MA20: | +23.48% | |
| Price / MA50: | +36.60% | |
| Price / MA100: | +47.41% | |
| Price / MAexp7: | +4.49% | |
| Price / MAexp20: | +6.56% | |
| Price / MAexp50: | +11.57% | |
| Price / MAexp100: | +18.37% |
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:
- Thinking about trading options or stock in Micron Technology, Apple, Amazon.com, Palantir Technologies, or Microsoft?
- Thinking about trading options or stock in Super Micro Computer, Micron Technology, Tesla, Microsoft, or Intel?
- Thinking about trading options or stock in Micron Technology, Apple, PayPal, Super Micro Computer, or GigaCloud Technology?
-
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?
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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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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