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Micron (SYM: MU) is exploding, as hoped. On September 9, we noted, “Keep an eye on oversold shares of Micron Technology (SYM: MU). After dropping from about $110 to a low of $89.39, it’s now attempting to pivot from double bottom support. It’s also attempting to pivot from over-extensions on RSI, MACD and Williams’ %R and could potentially retest $110 in the near term.” 
At the time, MU traded at $87. Today, it’s up to $109.88 after posting solid earnings and guidance. For its fourth quarter, the company’s EPS of $1.18 beat by seven cents. Revenue of $7.75 billion, up 93.3% year over year, beat by $100 million. “Looking ahead, Micron expects revenue for the first-quarter to be between $8.5B and $8.9B, with the midpoint of $8.7B above the $8.32B estimate. The company also said it expects to earn between $1.66 and $1.82 per share on an adjusted basis, with the midpoint of $1.74 above the $1.52 consensus estimate,” as noted by Seeking Alpha. Did you miss yesterday's Chart of the Day? Click here to view it now.
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