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Wednesday, April 04, 2007 

MICRON TECHNOLOGY

Chart courtesy of stockcharts

Micro Technology will be a stock in focus for tomorrow session after reported earnings after market closed. Company said it swing to a fiscal second-quarter loss as costs swelled and flash memory prices deteriorated. Net loss for the quarter ended in February was $52 million, or 7 cents per share, compared with a profit of $193 million, or 27 cents per share, in the second quarter of 2006.Revenue rose to $1.43 billion from $1.23 billion. In addition the company said there were significant declines in average selling prices for many of the company's products. Looking at the chart above the stock had recently a good bounce since the lows of the year on March, however still trading below 50 dma ( near ) and 200 dma, but if the stock break above 50 dma , we will certainly see more buyers back to push the stock further up. Keep an yeye on MU.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations. The charts provided here are not meant for investment purposes and only serve as technical examples.

That's All. Have a nice evening !!!

AC


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  • I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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