Daily Hot Tech-Stock Watch-List May 1: Micron Technology & Texas Instruments

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Micron Technology - MU

MU rallied nicely (4%) on Wednesday, continuing its bounce off the 50 day moving average (yellow) and the former resistance line. The move has now acted as a classic re-test of a former resistance zone and stands a good chance of moving the stock toward the $28 area in coming weeks.

Texas Instruments - TXN

TXN looks weak. The stock rallied on April 24th after reporting earnings. The rally however was short-lived and the stock has since given up all of the gains and then some. Yesterday the stock broke back below its 50 day moving average (yellow) and now looks to have enough downside momentum to move into the $43.50 area, which would be a mean-reversion move to its late 2012 up-trend (black) and the 200 day simple moving average (red)

Posted to Hot Tech Stocks to Watch on May 01, 2014 — 7:05 AM
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