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Micron (SYM: MU) looks interesting again. 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.” 
On our first mention of the tech stock, it traded at $89.45. Shortly after, it would hit a high of $114.80 before pulling back to its current price of $101.82, where it appears to have caught strong support. From here, we’d like to see MU retest its recent high of $114.80 again soon. Fueling upside, Micron recently topped earnings expectations and provided solid guidance. In fact, as noted by Seeking Alpha, “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. Adjusted gross margin for the period is expected to be between 38.5% and 40.5%, while adjusted operating expenses are forecast to be between $1.07B and $1.1B.” Did you miss yesterday's Chart of the Day? Click here to view it now.
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