MU Jumps 6.6% Near All Time High
$Micron Technology(MU)$
MU Jumps +6.61%: Memory Giant Challenges All-Time High, $400 Level in Sight
Latest Close Data
Closed at $389.11 (+6.61%) on Jan 21, just $5.09 shy of its 52-week and all-time high of $394.20. Pre-market indicates continued strength, trading at $398.5.
Core Market Drivers
The surge is fueled by strong sector-wide demand for high-bandwidth memory (HBM) driven by AI and data center growth. Positive sentiment is reinforced by the company's solid positioning in the memory upcycle and robust profitability metrics.
Technical Analysis
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The breakout is confirmed by high volume (56.7M shares, VR=1.70).
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MACD shows a strong bullish signal with DIF at 29.36 crossing above DEA at 25.70 and a widening histogram.
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The 6-day RSI at 85.01 indicates the stock is deeply overbought, suggesting a potential near-term pullback or consolidation.
Key Price Levels
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Primary Support: $366.73 (today's low). A break below could signal a short-term trend reversal.
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Strong Resistance: $394.20 (52-week high). A confirmed breakout opens the path to $400+.
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Immediate Pivot: $389.11 (today's close). This level will be key for intraday direction.
Valuation Perspective
Forward P/E stands at 11.71, significantly below its historical average (-0.99) and the semiconductor industry average, indicating the stock may still be reasonably valued despite the rally. TTM P/E is 36.92.
Analyst Targets
Sentiment is overwhelmingly bullish. Of 45 analysts, 41 rate it a Buy or Strong Buy, with an average price target of $333.41. The current price has surpassed this consensus, reflecting even stronger market momentum.
Weekly Outlook
Expect consolidation between $380 and $395 as the overbought RSI works off. A decisive close above $395 could trigger a rapid move toward the $410-$420 zone. Failure to hold $380 support may lead to a retest of the $365-$370 area.
Risk Disclaimer
This content is for informational purposes only and not financial advice. Trading involves substantial risk. Past performance does not guarantee future results. Always conduct your own research and consider your financial situation before investing.
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Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
