Micron Technology Inc (MU)
Micron Technology, Inc. is an American producer of computer memory and computer data storage including dynamic random-access memory, flash memory, and USB flash drives. It is headquartered in Boise, Idaho.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is increasing.
- The growth rate of the primary trend is 76.72% per annum.
- MU price at the close of July 25, 2024 was $107.45 and was inside the primary price channel.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 158.13% per annum.
- MU price at the close of July 25, 2024 was lower than the bottom border of the secondary price channel by $14.77 (12.08%). This indicates a possible reversal in the secondary trend direction.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of MU price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: December 1, 2022
End date: July 25, 2024
a = 1.9627
b = 0.0016
s = 0.1014
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0016) – 1
= 76.72%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.1014) – 1
= 50.02%
December 1, 2022 calculations
Top border of price channel:
Exp(Y845)
= Exp(a + b × X845 + 2 × s)
= Exp(a + b × 1,224 + 2 × s)
= Exp(1.9627 + 0.0016 × 1,224 + 2 × 0.1014)
= Exp(4.0750)
= $58.85
Bottom border of price channel:
Exp(Y845)
= Exp(a + b × X845 – 2 × s)
= Exp(a + b × 1,224 – 2 × s)
= Exp(1.9627 + 0.0016 × 1,224 – 2 × 0.1014)
= Exp(3.6695)
= $39.23
July 25, 2024 calculations
Top border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(1.9627 + 0.0016 × 1,826 + 2 × 0.1014)
= Exp(5.0142)
= $150.53
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(1.9627 + 0.0016 × 1,826 – 2 × 0.1014)
= Exp(4.6086)
= $100.35
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 76.72% per annum.
- MU price at the close of July 25, 2024 was $107.45 and was inside the primary price channel.
Secondary Trend
Start date: September 21, 2023
End date: July 25, 2024
a = 0.2141
b = 0.0026
s = 0.0762
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0026) – 1
= 158.13%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0762) – 1
= 35.64%
September 21, 2023 calculations
Top border of price channel:
Exp(Y1,046)
= Exp(a + b × X1,046 + 2 × s)
= Exp(a + b × 1,518 + 2 × s)
= Exp(0.2141 + 0.0026 × 1,518 + 2 × 0.0762)
= Exp(4.3104)
= $74.47
Bottom border of price channel:
Exp(Y1,046)
= Exp(a + b × X1,046 – 2 × s)
= Exp(a + b × 1,518 – 2 × s)
= Exp(0.2141 + 0.0026 × 1,518 – 2 × 0.0762)
= Exp(4.0056)
= $54.90
July 25, 2024 calculations
Top border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(0.2141 + 0.0026 × 1,826 + 2 × 0.0762)
= Exp(5.1106)
= $165.78
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(0.2141 + 0.0026 × 1,826 – 2 × 0.0762)
= Exp(4.8058)
= $122.22
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 158.13% per annum.
- MU price at the close of July 25, 2024 was lower than the bottom border of the secondary price channel by $14.77 (12.08%). This indicates a possible reversal in the secondary trend direction.