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Micron Technology Technical Analysis - Micron Technology Trading: 2022-12-23
MU Technical Analysis Summary
Below 48.41
Sell Stop
Above 54.22
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Sell |
| MA(200) | Sell |
| Fractals | Neutral |
| Parabolic SAR | Sell |
MU Chart Analysis
MU Technical Analysis
The technical analysis of the Micron stock price chart on daily timeframe shows #S-MU,Daily is retreating under the 200-day moving average MA(200) after hitting four-month high four weeks ago. We believe the bearish momentum will continue after the price breaches below the lower boundary of Donchian channel at 48.41. This level can be used as an entry point for placing a pending order to sell. The stop loss can be placed above the Parabolic at 54.22. After placing the order, the stop loss is to be moved every day to the next fractal high, following Parabolic indicator signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (54.22) without reaching the order (48.41), we recommend cancelling the order: the market has undergone internal changes which were not
Fundamental Analysis of Stocks - MU
Micron stock fell after the chipmaker reported lower than expected earnings and more staff cuts. Will the Micron stock price persist retreating?
Micron Technology Inc is a major US chip manufacturer that designs, manufactures and sells memory and storage products worldwide. The company capitalization is at $55.3 billion currently, the stock is trading at P/E Ratio (Trailing Twelve Months) of 6.54. The chip maker earned a revenue (ttm) of $30.76 billion and Return on Assets (ttm) of 9.78% and Return on Equity (ttm) of 18.51%. Micron said on Wednesday it will lay off 10% of its workforce next year after forecasting losses in the second quarter of its fiscal 2023, which began December 2. The company employed roughly 48,000 according to its 2022 annual report issued in September. Micron posted $4.09 billion in revenue during its first quarter, a 47% drop from the same quarter of last year. It reported a net loss of $195 million on the quarter compared to a $2.31 billion profit a year ago. The chip maker forecast about $3.8 billion in sales in the current quarter. It announced cuts to its budget for new facilities and equipment to $7 billion to $7.5 billion from earlier plan of $12 billion for its fiscal 2023 year. The company attributed the downgrade to a drop in demand for computers and smartphones. Stock price closed down 3.44% over day after the report.
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