Micron Technology, Inc. (NASDAQ: MU)

Micron Technology, Inc., together with its subsidiaries, manufactures and markets semiconductor solutions worldwide. It offers dynamic random access memory (DRAM) products for data storage and retrieval, including DDR4, DDR3, and DDR2 that offer high speed and high bandwidth; and other specialty DRAM memory products, such as DDR and DDR2 mobile low power DRAM, DDR, SDRAM, reduced latency DRAM, and pseudo-static DRAM products that are used in computers, servers, tablets, mobile phones, communication equipment, computer peripherals, industrial, automotive, and other electronic devices.
Take a look at the 1-year chart of Micron (Nasdaq: MU) below with added notations:

MU has been trading sideways for the last 4 months, while forming a common pattern known as a rectangle. A minimum of (2) successful tests of the support and (2) successful tests of the resistance will give you the pattern. MU’s rectangle pattern has formed a $35 resistance (green) and a $30 support (blue). A break above $35 would also be a new 52-week high.

The Tale of the Tape: MU is trading within a rectangle pattern. The possible long positions on the stock would be either on a pullback to $30, or on a breakout above $35. The ideal short opportunity would be on a break below $30.
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