- MU price has surged 1.03 % in a week, 10.07% in a month and 27.20% in a year.
- After generating a good revenue and profit for 2 consecutive years the company is expected to generate a weak financial outcome.
- The stock is down by over 27.49 % from highs and surged by 46% from its recent lows.
Market capital of Micron technology – $ 77.602 B
Current market price of Micron technology – $ 70.85
In the previous session i.e 13 september the price of MU stock surged by 0.77 % a rise of $0.54 points. The stock is currently forming a range between the levels $ 74 and $ 60.41. The price has tested the resistance level thrice which means the resistance is now getting weaker. The support level has been tested twice and it can support the price in future too.
In 2 financial years i.e 2021 and 2022, the revenue surged by 29% and 11% respectively.
Net income of the company surged by 118.12 % and 48.22 % respectively which is phenomenal growth. The EPS has risen up by 116.18% and 49.28% which shows that the price has taken some positive jump from the lower levels .
MU stock is expected to perform poorly in upcoming results as the revenue is expected to decline by over 64.4%. The net income is expected to fall by 133% which is a huge fall as the market is expecting a net loss in this financial year. The EPS is expected to fall by 134% which is also a very bad sign for this company.
Net debt on the company is rising year on year which is a bad sign for the company as of now, but the company’s cash reserves is way more than the Net debt so it can be neglected.
Although the company should focus on controlling the net debt as the net income is falling year on year.
Is MU a good dividend stock?
Till 2020 the MU stock has not given a single dividend payout to its investors. In 2021 the company paid a dividend of $0.10 per share but in 2022 company paid a dividend of $0.44 per share. So as of now the MU is not a good dividend paying company as the dividend yield is still below 1% .
Is MU a good stock to buy?
If we talk about technicals the stock is currently down by over 27% off highs and up by over 46% from the recent lows. The stock seems bullish as of now as the price is rising up with the support of an upward trendline. The buyers are trying to dominate the sellers which are present near $74.93 levels.
The price has breached the resistance levels of $64.77 which will act as a support now. The major support level is present at $48.13 and $50.92 levels i.e (52 week low). If we talk about the resistance the price can face some rejection near the level $94.19 and $97.27. Trendline is supporting the price and is currently placed near the level $ 63.17.
Will MU stock go up ?
The financials of the company are expected to perform poorly. The technical analysis shows that the stock is consolidating in a range and waiting for some surprise in financial results. On the 1 hour chart the price is consolidating between $71.68 and $74.55 on the upper side. The lower demand zone is present near the $60.41 and $ 61.71 levels.
https://www.tradingview.com/chart/ruBma0Io/?symbol=NASDAQ%3AMU
Conclusion
If the price breaks any of the levels that we have mentioned above in the 1 hours chart then only we can expect some move on either side. For upside if the market breaks $74.55 then it can be headed towards $100 levels. If it breaks the level on the lower side then it can fall back to the 52 week low levels of $ 60.41.
Technical levels
Resistance $74.55
Support $60.41
Disclaimer
The analysis is done for providing information through technical analysis and no investment suggestions are given in the article to be made by investors. The coins are unpredictable so investors should have proper knowledge. Cryptocurrencies are highly volatile and risky. Investment should be made with proper technical analysis
