Micron Technology, Inc. (NASDAQ: MU)

Micron Technology, Inc., together with its subsidiaries, engages in manufacturing and marketing semiconductor devices worldwide. Its products for data storage and retrieval comprise dynamic random access memory products, including DDR2 and DDR3 for use as main system memory in computers and servers; and other specialty DRAM memory products, such as DDR and DDR2 mobile low power DRAM, DDR, SDRAM, reduced latency DRAM, and pseudo-static RAM used in laptop computers, tablets, and other consumer devices. The company also offers NAND flash memory products, including RealSSD solid-state drives, flash memory cards, CompactFlash and memory stick products, SD memory cards, and JumpDrive products used in mobile phones, MP3/4 players, computers, solid-state drives, tablets, digital still cameras, and other personal and consumer applications. In addition, it resells flash memory products that are purchased from other NAND flash suppliers. Further, Micron Technology, Inc. provides NOR flash memory products that are electrically re-writeable, non-volatile semiconductor memory devices used in consumer electronics, industrial, wired and wireless communications, computing, and automotive applications.

Please take a look at the 1-year chart of MU (Micron Technology, Inc.) below with my added notations:

After selling off from February until June, MU has formed what appears to be a double bottom (blue) price pattern. The pattern is as simple as it sounds: Bottoming, rallying up to a point, selling back off to a similar bottom, and then rallying back up again. As with any price pattern, a confirmation of the pattern is needed. MU would confirm the pattern by breaking up through the $7 resistance (red) that has been created by the double bottom pattern.

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