The analyst suggests that Micron Technology ($MU) is undervalued and a price range of $500-$600 is reasonable, implying a bullish stance.
The 200-week moving average represents a -90% drop which is considered too low; current breadth is poor but the price target range of $500-$600 is justified.
$MU How's it feeling at the Top? 200 WMA is a -90% drop It won't get that low but that breadth is now disgusting But $500 - $600 makes a lot of sense here https://t.co/6PxVFpZ6cB
| Horizon | Raw move | vs SPY |
|---|---|---|
| 1 day | -5.5% | -5.4% |
| 1 week | -8.1% | -8.0% |
| 1 month | -20.3% | -20.4% |
| 3 months | — | — |
| 6 months | — | — |