Chart of the Day: Micron Has 'Earned' Our Attention
The latest change to the EPS Diplomats includes this computer memory manufacturer.
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Micron CEO Sanjay Mehrotra
As we roll out new names for the wildly popular and successful EPS Diplomats portion of our portfolio, one company you may recognize is Micron Technology (MU) . The stock has been on a massive run since last fall, rising an astounding 180% or more just before its last earnings report. Since then (mid-March), the stock has pulled back sharply on some basic profit-taking; though it looks bad, it really is nothing to be worried about.
After all, the earnings outlook was terrific for the rest of 2026 and beyond, pricing is firm and product is shipping, orders being booked. Everything is working well. The stock may have just been ahead of itself.
A move to the support level of the 100-day moving average seems logical. We think the stock could make a big move higher if the market obliges, perhaps up to $500.
The candles are purple, so that indicates the trend is bearish, but again we think this is the end of a corrective mode. We might prefer to wait for the candles to change first but if you see the chart those changes do not take long to happen.
Stochastics (momentum) is starting to turn higher and money flow recently went bearish but is making a run higher. It seems big money is trying to get back in Micron.
As a member of the EPS Diplomats, Micron is not a rated stock in TheStreet Pro Portfolio.
At the time of publication, TheStreet Pro Portfolio was long MU.
