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.