Could Micron Technology drop towards the 57 level?
|Today’s instrument is the Micron Technology Inc. traded in NASDAQ exchange under the ticker MU.
Looking at the MU‘s chart, we see that it was lastly traded at around $58.15. Last night, FED increased the interest rates an additional 0.25%, and this should have a negative impact on the tech stocks, therefore today we should expect a drop of the price towards its support level which is located at around $57 where a technical upward reaction could be possible.
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