Charts Say Sell Micron Technology
Micron's chart indicate that the recent run up in the stock has run its course.
Micron Technology (MU) - Get Report and other semiconductor plays may be sizzling, but soon Micron will be cold as ice. Now is the time for investors to exit their positions in the stock, according to TheStreet contributor Ken Goldberg. The stock has jumped 66% over the past 12 months, but over the past two years, Micron's share price is down about 34%. Goldberg used the Elliot Wave structure and Fibonacci retracement technical analysis tools to predict that the current rally in the stock is close to being over and the familiar selloff the stock has experienced after rallies over the past decade is about to take place.
