Micron Technology

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Nearest Resistance: $8
Nearest Support: $7.50
Catalyst: Note Pricing

Trading volume is ticking up in shares of Micron Technology ( MU) today after the firm announced pricing for a $270 million note offering that will come due in 2033. That note makes up one series of the $440 million that MU is planning to raise in the dirt cheap corporate debt market. Shares are off around 3% after pushing up by the same amount in yesterday's market session.

From a technical standpoint, the news isn't all that material -- shares of the flash memory firm are consolidating sideways this week after staging a big leg higher. The big levels to watch right now are resistance at $8 and support at $7.50. If MU breaks out of that range, a continuation in the direction of the breakout looks likely.

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