Watch these levels of Micron share prices after reporting strong earnings

Micron (Him) Actions have not been changed much in the Premarket trade on Wednesday after the manufacturer of memory systems published better than the expected quarterly results and He issued a pink forecast Among the growing demand associated with AI.

The company said that at the end of Tuesday it expects to generate revenues from the first tax quarter of 12.20 billion to $ 12.80 billion. The middle point of this range is significantly ahead of $ 11.94 billion expected by analysts, and guidelines based on the developing demand on Chips of memory with a high capacity of the company and favorable price dynamics.

Entering a report on earnings, nvidia (NVDA) and advanced micro devices (AMD) Partner’s shares have almost doubled since the beginning of the year and increased by 40% in September. Profits were fueled by customers investing billions in AI systems to build data centers whose task is to supply applications that require memory more and more. The shares fell by 0.2% to around USD 166 in the last premarket trade.

We use below Technical analysis To identify important price levels after profits to be careful.

Powder pattern

After finding support nearby 50-day movable averageMicron provides a tendency much higher before consolidation in Powder pattern Over the past week.

While a strong growth this month coincided with Relative strength indicator Transition to Completed Territory, the indicator remains below the June summit, signaling that the actions have a further place for climbing.

During Wednesday’s trade session, watch out for Breakout Above the pennant who would indicate the continuation of the last stubborn movement.

Let’s turn to the Micron chart to forecast the growth target price and also identify important support levels Among the possibilities of variability related to earnings.

Target price based on the chart

If there is a breakthrough movement by profits, investors can use the strip pattern analysis to display the target.

By using the technique on the micron chart, we take the price bars covering the strong movement higher this month Trendline. This forecasts the goal of around 240 USD, 44% above Tuesday closing price.

We chose it earlier tendency Predicting how continuation of movement can take place on the chart if the herds have a similar stubborn leg up.

Important support levels are worth monitoring

While retraction In action, investors should initially observe USD 155. This area on the chart can provide support near the base of the pennant pattern and a short pause in a strong increase in action at the beginning of this month.

Finally, sales below this level can cause a decrease to USD 129. Investors can try collect Micron shares in this location near June and August peakswhich are currently just above the falling 50-day ma.

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