Micron Technology Inc. (MU) Boosted by AMD + Demand Zone

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Micron Technology (NASDAQ:MU)

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NASDAQ:MU Micron Technology

trendanalysis chartpattern mu semi smh amd

Have not played MU or SMH traditionally, but it's been one of the steadier semi's going into late January, and has not been affected by NVDA's weak guidance update. Has been working through an ascending channel, and now appears to be breaking out of a bull flag, supported by a demand zone. Targets have been mapped, but expecting 40+, settling down once it reaches the 200dma (currently at 46.18). I'd set a stop around 37.50.

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Currently waiting to see if today was a failed breakout, or a mini-consolidation phase prior to the breakout. Tomorrow will tell the full story.

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