In today’s stock of the day, let’s take a closer look at Micron Technology, which has just delivered a fresh buy signal on the chart. The signal was triggered at the end of last week and continues to look promising as the new week begins.
The stock formed an ascending triangle pattern, a technical setup defined by an uptrend line acting as support and a horizontal resistance line. True to the textbook, the breakout came to the upside, unlocking a wave of bullish momentum. Price action surged higher, confirming the strength of the formation.
As long as Micron stays above the pink horizontal support, the sentiment remains strongly positive. The breakout is valid, the uptrend is intact, and the outlook favors further gains. In short, Micron is flashing a proper signal to go long.