MU - continuing to power upward

Whilst the main market saw a day of mostly minor chop, there was continued significant strength in Micron Technology (MU), which settled +2.3% at $37.96. Near term threatens some cooling, but mid term is hyper bullish, with next target of the 45/50 zone.


MU daily

MU monthly

Summary

Little to add from yesterday.

The sustained break >$37 is VERY bullish, and bodes for 45/50. Considering the current price action, $45 is now a valid target by year end. The bigger $50 threshold looks more viable in spring 2018.

Long term... chatter of $100 can begin.