MU - just some cooling

Micron Technology (MU) began the week on a rather negative note (intra low 47.09), settling -3.3% at $48.05. There is natural psy' level resistance around the $50.00 threshold, with last week seeing a high of $49.89. Near term offers further weakness, but m/t... still hyper bullish to $100.


MU daily

MU monthly

Summary

I'd imagine at least a few will start to tout 'the bubble has burst', but with an FPE in the 7s, Micron remains very under-valued relative to the main market.

The fact the stock has already hit the $49s, gives confidence to the original outlook. The break into the $37s in September was massively important, and the door to the giant psy' level of $100 is wide open, viable even before end 2018.

I can understand if some prefer more well known techs like INTC, CSCO, or even AAPL. To me though, MU is my favourite tech stock, and indeed, my favourite stock in the entire US market.

yours... bullish Micron, into and across 2018.