Micron Technology, Inc. (NASDAQ:MU) stock poised for a bullish MACD crossover.
Shares of Micron Technology, Inc. (NASDAQ:MU) have had a rough ride since the last week of July. MU stock had breached its key support levels during that time, be it the 20-day, 50-day or the 100-day Simple Moving Average (SMA). Micron stock had lost more than 13% of its value until the second week of August only to recover after that and gain more than 10%. In the last 5 trading sessions, Micron shares have displayed extremely high volatility making moves of nearly 3% or more in either direction. Micron shares are facing resistance from its 50-day SMA which could also be one of the causes of the high volatility witnessed in the recent trading days. After yesterday's 3% uptick, MU stock has closed above the 50-day SMA trend line which is currently at 30.34. MU stock has traded above its 20-day SMA and 100-day SMA since making bullish crossovers with the respective SMA trend lines.
Now, Micron stock is all set to make a bullish Moving Average Convergence Divergence (MACD) crossover. The MACD line is trending upwards suggesting a shift of momentum and could soon go past the center line from below. This could happen as early as the next trading session. This bullish crossover could help Micron shares break out above the resistance from the 50-day SMA to resume its uptrend. As neither of the popular momentum indicators, Relative Strength Index (RSI) and Bollinger Bands, indicate an overbought condition, the stock could be on course to move much higher from here after the bullish MACD crossover and breakout above the resistance at the 50-day SMA.
Activision Blizzard, Inc. (NASDAQ:ATVI) stock could be headed higher.
Activision Blizzard (NASDAQ:ATVI) shares have had an extraordinary run this year. Activision stock price is up by 77.96% year-to-date, outperforming the Nasdaq Composite (INDEX:COMPX) by a factor of more than 4.5. Activision stock also received a solid boost from its Q2 earnings release in the beginning of this month, which saw the company beat estimates easily and finish with record first half revenues. Given the kind of run it has had, there would be questions whether Activision stock can maintain its strong upwards momentum? Considering the upcoming slate of video games, the company looks to be positioned well. From a purely technical perspective, the stock might see further upward momentum, and here is why.
ATVI stock has recently broken above the stiff resistance offered by its short-term 20-day SMA.The breakout was accompanied by high volumes, further indicating a strong upward momentum in favor of Activision shares. The bullish case got another boost when the stock made a bullish MACD crossover in yesterday's trade. The MACD line is trending upwards and has broken above the signal line from below. The latest movement in Activision stock price has taken it above all its key SMAs. The Activision share price might well continue along its upward path over the next few trading sessions.
Shares of Alphabet Inc (NASDAQ:GOOGL), Google's parent company, are on the verge of a bearish 'death cross'.
Shares of online search giant Google's parent company, Alphabet Inc (NASDAQ:GOOGL), have not yet recovered from the post earnings dip. Google stock has trended downwards in the last one month and is down by nearly 6% in the same time frame. If you go by the technicals, it appears that the situation for Alphabet stock isn't likely to change anytime soon. Presently, GOOGL stock faces immediate resistance at the 20-day and 100-day SMA. The real cause of worry for Alphabet shareholders is that the stock is on the verge of a bearish 'death cross.' For the uninitiated, as per Investopedia, "A death cross is a crossover resulting from a security's long-term moving average breaking above its short-term moving average or support level, this trend indicates a bear market on the horizon and is reinforced by high trading volumes.". In the case of Google stock, the stock's long-term 100-day SMA is only a few cents away from going past its short-term 20-day SMA. This event is of further significance as the short-term 20-day SMA of Alphabet stock has not fallen below the long term 100-day SMA in 2017. This would mean more near-term pain for Google shares.
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