Watch these levels of microne prices as profit increases

Micron technology (Him) Actions increased higher in extended trade on Thursday after the publication of the Chipmaker better than expected results And he gave a strong perspective, strengthened by the growing demand for artificial intelligence.

Manufacturer of memory systems and nvidia (NVDA) The partner saw his revenues from the Data Center in the second tax quarter from a year earlier among the strong demand for high bandwidth memory systems used in systems that develop and activate AI software.

Micron shares have gained 22% from the beginning of the year from Thursday, although trading by only 7% higher in the last 12 months, because the growing demand for AI’s offer of the company has been partly compensated by the low demand for it fries Used in smartphones and computers. Shares increased by 1% to USD 104 in trade after hours on Thursday.

Below we break down techniques on micron’s Weekly chart And indicate key price levels to be careful.

Potential breaking of a symmetrical triangle

Micron shares were traded under Symmetrical triangle They have been potentially creating since September last year Pattern of continuation before the next movement.

Recently, shares found purchasing interest near the lower part of the triangle Trendline And it can exceed the pattern during the Friday trade session after the company’s optimistic results.

Let’s apply Technical analysis For the micron chart to identify three key general areas that investors will probably watch and locate key level of support It is worth monitoring during withdrawal In the chipmaker magazine.

Key areas to view

Buying profits above the symmetrical triangle could see that the shares initially took a transition to USD 107. This area ensures general costs resistance near the 50-week average movable and Horizontal line This combines a series of price points on the chart reaching until April 2024.

Movement over this area can cause a rally to around USD 130. Investors who have accumulated actions At lower levels he can look for Starting points in this region near last year’s April summit, which is also strictly in line with a number of closed prices set just below the action All -time (ATH) set in June last year.

To forecast the potential goal above ATH, investors can use bar patterns analysis. To apply this technique, we take the price straps that make up the actions Uptrend From October 2023 to June last year and apply them from the lowest month. The analysis provides for the target of around USD 200, almost a double closing price on Thursday Micron.

We chose the earlier trend, which followed the earlier symmetrical triangle in the chart, providing insight into how future traffic in the warehouse can take place.

Key level of support for monitoring

When withdrawing Micron shares, investors should track USD 85. Actions would probably find support in this area near a series of minima stretching for August and consolidation The period that was created in the chart in December 2023 and January 2024.

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