Micron dips on profit-taking - Analysis - 22-09-2017

Micron Technology's stock (MU) fell in the intraday levels, recording a loss of 0.17% in the last session, or 0.06 points, as traders collect recent short-term profits, while the stock gathers momentum to help it rise again, by venting off the overbought saturation in relative power indicators, and aiming to tackle the resistance of 36.59, amid the dominance of the main upward trend in the medium and short terms, with positive pressure from the 50-day SMA. 

Therefore we expect the stock to return higher, provided it pierces the resistance of 36.59, targeting the next one at 42.59.