January 08, 2021 12:30
After the yesterday’s trading day close, Micron Technology announced its quarterly results as being far better than expected, with a profit per share of $ 0.78 and a turnover of more than 5.77 billion dollars, following in the wake of other technology companies likewise announcing positive results.
Micron Technology is an American company specializing in the production of semiconductors and the manufacture of ICs and storage memory for computers, mobile devices, and the automotive sector. Its consumer products are marketed under the Crucial Technology and Lexar brands.
As a strong component of the Nasdaq 100, it experienced growth close to 40% over the last year, accumulating a rise of 430% in the last 5 years. These results may further boost the price of this company which yesterday marked its all-time highs, exceeding $ 80 per share.
Technically speaking, we can see that the price has followed a strong upward trend after breaking the level of $ 54.83 on November 6, which acted as its main resistance after the sharp falls at the beginning of the pandemic supported by its 18 moving average.
It is important to note that we observe downward divergences in the price with its stochastic oscillators and MACD with a slight overbought, so it would not be ruled out that it could make corrections in the short/medium term since it is currently trading far from its moving averages.
Source:Daily Chart Micron from the Admiral Markets MT5 platform (from September 9, 2019 to January 8, 2021). Access: January 8, 2021 at 10:00 PM GMT. Please note: Past performance is not a reliable indicator of future results or future performance.
In 2016, Micron grew by 54.80%, in 2017 by 87.59%, in 2018 it fell by 22.84%, in 2019 it rose by 69.49% and in 2020 by 39.79%.
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