Micron Technology Inc testing support (NASDAQ:MU)

by Josh Shares of Micron Technology Inc. ($MU) traded below the 50 day moving average on heavy volume last session. Today shares opened slightly up, traded back up to the 50 day moving average before falling lower currently at $12.43 on a volume of 24,185,300 shares.

Shares are testing the July lows today, which are the nearest support. Shares are currently trading 38% above the 200 day moving average, last at $8.99 per share.

If support is broken bearish traders would expect have some additional downside catalysts in play.

52 Week Range $5.16-$14.60 Market Cap 12,949,784,647 Average Volume 42,613,151 Dividend Yield 0.00% Institutional Ownership 97.00% Insider Ownership: 1.50% Percentage of Float Short 7.70% Beta 1.11

Micron Technology Inc. Micron Technology, Inc. is a global manufacturer and marketer of DRAM, NAND Flash memory, CMOS image sensors and other semiconductor components. It has two segments, Memory and Imaging.

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