Micron Technology Inc MU will be reporting its fourth-quarter earnings on Wednesday. Wall Street expects $1.13 in EPS and $7.64 billion in revenues as the company reports after market hours.
The stock is up 37% over the past year and14% YTD.
Let’s look at what the charts indicate for Micron stock and how the stock currently maps against Wall Street estimates.
Micron Stock’s Tug-of-War: Bulls Vs. Bears Ahead Of Q4 Earnings
Micron stock is showing a relatively stagnant trend with slight buying pressure.
Chart created using Benzinga Pro
The stock is trading at $94, above its eight-day and 20-day simple moving averages (SMA) of $90.28 and $90.57, indicating a bullish short-term signal.
However, it remains below its 50-day SMA of $99.02 and 200-day SMA of $105.22, signaling a longer-term bearish outlook.
Read Also: Micron Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
Chart created using Benzinga Pro
The Moving Average Convergence Divergence (MACD) indicator, at negative 2.65, further supports a bearish sentiment, while the Relative Strength Index (RSI) of 50.17 suggests that Micron stock is trading in neutral territory (neither overbought nor oversold).
Additionally, the Bollinger Bands ($80.21 – $106.49) point to bearish momentum, with the stock trading in the lower band.
Micron Analysts Consensus Ratings
Micron Stock Ratings & Consensus Estimates: The consensus analyst rating on Micron stock stands at a Buy with a price target of $146.04. The latest analyst ratings from TD Cowen, Stifel and Wells Fargo, released in mid-September, give Micron stock an average price target of $141.67, suggesting a 50.12% upside.
MU Price Action: Micron stock closed at $94, up 0.46% on Tuesday.
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