Micron Technology Stock Analysis: Nearing Key Resistance After Upgrade Boost

Micron Technology Inc. (NASDAQ: MU) shares are trading nearly 5% higher today, following a bullish upgrade from Mizuho Securities. This upgrade comes in the wake of Nvidia’s strong earnings report last week, which has lifted sentiment across the semiconductor sector.

Currently, Micron stock is trading around $108.34 per share, approaching a key resistance zone between $110 and $115. This price level will be closely monitored throughout June, especially as Micron is scheduled to report its earnings on 25 June 2025. A decisive breakout above $115 could open the door to retest the upper trendline resistance of the established price channel, near the $130 mark.

While this level is still well below Micron's all-time high of approximately $160, the setup may offer potential for a longer-term bullish extension if momentum continues.

Technical Analysis: Downside Risk and Support Levels

On the downside, short-term investors may remain cautious due to a recent price gap between $86 and $90. While not all gaps are filled, and some may take extended periods to close, this particular gap could create hesitation in market sentiment. A break below $86 might trigger a deeper correction, with potential support at the lower trendline of the channel near $70 per share.

Momentum Indicators: Bullish MACD Signal

From a technical momentum perspective, the MACD (Moving Average Convergence Divergence) indicator is currently bullish, supporting the near-to-mid-term outlook. Notably, the MACD recently rebounded from its most oversold condition since June 2022, which could provide additional upside strength.