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Chart of the Day: Micron Pulls Back After Breaking Out

Chart of the Day: Micron Pulls Back After Breaking Out

Semiconductor stocks have been moving lately. Today’s chart focuses on memory-chip producer Micron Technology. The first pattern to consider is the level around $64.30. MU peaked near this price in November, January, March and April. A breakout followed in mid-May...

Options Alert: Bearish Traders Could Be Sticking With Western Digital

Options Alert: Bearish Traders Could Be Sticking With Western Digital

Western Digital tried to bounce after a big drop, but the bears don't seem to be going away. Check out this unusual options activity in the maker of data-storage products: A block of 7,500 October 36 puts was sold for $2.05.A trader bought an equal number of October...

Stocks Hit Another Wall as Inflation Fears Hammer the Nasdaq Again

Stocks Hit Another Wall as Inflation Fears Hammer the Nasdaq Again

Investors are starting to worry that the Federal Reserve is behind the curve and will need to hike rates aggressively to slow inflation. The S&P 500 was positive for most of last week, but slid into the red on Friday afternoon. It ended with a drop of 1.8 percent...

Stocks Inch to New Records But New Coronavirus Fears Threaten the Recovery

Stocks Inch to New Records But New Coronavirus Fears Threaten the Recovery

Stocks inched to new highs last week, but a resurgence of coronavirus threatens to overshadow all kinds of good news. "Consumers reported a stunning loss of confidence in the first half of August" because of the delta variant, consumer sentiment economist Richard...

Memory Chip Maker Holds Key Level as Market Rebounds: Chart of the Day

Memory Chip Maker Holds Key Level as Market Rebounds: Chart of the Day

This week was cut short by Independence Day. That makes it a good time to view Micron Technology (MU), which seems to have the spirit of 76. The memory-chip maker had a false breakdown below that level on January 27. It quickly rebounded and returned to test $76 three...

Chart Study: Do You Know This Chipmaker Getting Close to Record Highs?

Chart Study: Do You Know This Chipmaker Getting Close to Record Highs?

Micron Technology (MU) has stalled after a big rally. Is it time to buy the dip? The first pattern on the memory-chip maker's chart is the oversold condition on stochastics. Given its current uptrend, strong fundamentals and positive macro backdrop (GDP +6%), that...

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