September 25 Chart of the Day - Micron

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Micron Technology (MU) reports earnings after the close today so we wanted to take a look at their chart from a price action technical analysis perspective.

The company is highly scrutinized by industry analysts as an Artificial Intelligence (AI) chip producer.

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Monthly Chart 

On the monthly chart we can see that after setting its $157.54 all time high (ATH) earlier this year price fell dramatically over the next several months all the way down to the $85 area earlier this month.

Since then price has been trying to bounce out of that area.

Weekly Chart

On the weekly chart we can see with much more clarity the fall from ATHs, and the attempt to climb back up.  The bulls seemingly were aggressively rejected in the $100 area back down toward $85 before trying to mount another climb up.

Trading around $95.16 earlier today price may be attempting to zoom back up and over $100 again.

The market is implying about a $9.45 move in either direction as marked on the weekly chart by this Friday September 27.  Share price has risen during the week of earnings only 3 of the last 8 quarters.

Could earnings be the catalyst that pushes price back up towards its glory days or will price continue fading?

Only time will tell for sure what price will do next...

We've layered in traditional Fibonacci levels as well as support/resistance and trend to help identify potential price levels of interest and/or future price targets.

Armed with precision oriented charts like these both traders and investors can formulate their respective plans. 

So what's next?