Will History Repeat Itself For Micron Technology???
Everywhere you look, the signs point to an awful rest of the year for Micron Technology (NASDAQ:MU). After a volatile second half of 2018, investors hoped that things would turn around in 2019. For a while, they did. From the January opener to April’s closing session, MU stock gained nearly 36%. But as you know, that bullishness crumbled shortly thereafter.
For the first half of this year, sales to Chinese consumer-tech firm Huawei represented 13% of Micron’s total revenue. The jury’s still out on the impact on those sales from that “minor inconvenience” presented by the U.S. Department of Commerce labeling the firm a national security threat.
Unfortunately, MU stock already suffered from volatile memory-chip pricing dynamics. No longer able to sell to a major partner, the situation looks bleak for the semiconductor specialist.
Lets go to charts to see where Micron's stock price may head next.
Monthly Chart (Curve Time Frame) - monthly supply is $55 and monthly demand is $27.50.
Weekly Chart (Trend Time Frame) – the trend is sideways.
Daily Chart (Entry Time Frame) – the chart suggests to go long if price makes it down to the daily demand at $25.50
This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.
