Micron Has More Downside Ahead
They were hit hard after negative comments from Deutsche Bank.
Micron (MU) - Get Report was hit hard after negative comments from Deutsche Bank on Tuesday. The stock fell more than 3.25% on the news after opening the session with a huge downside gap. By early February, the stock was at new highs as the rally off the November lows stretched to 50%. Micron began to fade on Feb. 3, and with Thursday's slight decline, the stock is down for the 8th time during the 10 sessions since. Patient bulls should keep a close eye on the $21.50 to $20.50 area. This major support zone includes the November/December highs as well as the January low.
This article was written by a staff member of TheStreet.
