Micron has lagged its technical peers over the last month but performance is likely to improve. The company reports earnings in the coming week. Let us look at the cyclical perspective of the Micron share price.
The weekly strip in the three-up chart below shows a momentum uptrend and an upturn in relative strength. The monthly strip reveals that the share price is still oversold and we see the same relative price upturn.
The monthly histogram puts Micron at its seasonal low in the month of June.
The weekly graph has been the most accurate and it is now shifting to a buy signal. All buy signals in the last year have been profitable, and the last sell signal has failed. Price is likely to rally closer to $80 in July.
Micron Daily, Weekly, Monthly
Micron Monthly Histogram
Micron Weekly Cycle
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