Micron Technology Smashed (MU)

Shares of Micron Technology MU are pulling back yet again from a major area of resistance. CNBC contributor Steve Grasso has spoken a number of times about the levels in Micron, and today's trading action is suggesting he may be correct again. The stock has pulled back numerous times from the $11.80 level in recent months, and it does not appear as if it will be able to break this resistance level in the near-term. If and when MU is able to clear this formidable resistance, however, it could be set for higher prices. During today's session, MU has shed 4.20% to $11.30. Those that shorted in the $11.80 area have once again been paid off. Kudos, Steve Grasso on this one.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Intraday UpdateMovers
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!