Micron Falling Ahead Of Q3 Report

Micron Technology, Inc. MU shares are trading lower by 80 cents (2.6 percent) at $31.40 in Thursday's session.

After the close, the company will reveal Q3 results. Street estimates stand for EPS at $1.50 on revenues of $5.4 billion. It should be noted the company has only missed estimates for EPS one time since Q3 of 2013.

After a flat open, Micron's stock found resistance just above Wednesday's high ($32.28) at $32.39 and reversed course. It's now approaching Wednesday's low of $31.44. If the decline continues, the daily support level doesn't come in until its June 21 low of $31.06.