Micron Technology, Inc. : On a support area
By Anas Boumedian
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
US$28.72 | US$0 | US$26.1 | -100% |
The company has a low valuation, with a P/E ratio of 8.79x in 2015, and a strong profitability, with a net margin of 21.5%. Analysts who are covering the stock keep upgrading their EPS estimates, and have an average target price which representing 47% appreciation potential.
Technically, the security is in a consolidation area limited by the significant 27/28 support area, on both daily and weekly data. Above this lower limit, investors could aim a significant technical rebound.
Ideally, investors can take a long position on the stock in order to target USD 32.3 pivot point, and a stop loss will protect the position under USD 27.03.