Watch These Micron Price Levels as Stock Rises After AI-Driven Earnings Beat

Unlock stock picks and a broker-level newsfeed that powers Wall Street.

Timothy Smith

Thu, Mar 20, 2025, 8:52 PM 3 min read

Micron shares moved higher in extended trading Thursday after the chipmaker posted better-than-expected results and issued a strong outlook, bolstered by surging demand for AI.
The stock recently found buying interest near the lower trendline of a symmetrical triangle and could break out above the pattern in Friday’s trading session after the company’s upbeat results.
Investors should watch key overhead areas on Micron's chart around $107, $130, and $200, while also monitoring a crucial support level near $85.

Micron Technology (MU) shares moved higher in extended trading Thursday after the chipmaker posted better-than-expected results and issued a strong outlook, bolstered by surging demand for AI.

The memory chip maker and Nvidia (NVDA) partner saw its data center revenue triple in the fiscal second quarter from a year earlier amid strong demand for its high-bandwidth memory chips used in systems that develop and run AI software.

Micron shares have gained 22% since the start of the year as of Thursday’s close, though trade just 7% higher over the past 12 months as surging demand for the company’s AI offerings has been partially offset by modest demand for its chips used in smartphone and PCs. The stock rose 1% to $104 in after-hours trading Thursday.

Below, we break down the technicals on Micron’s weekly chart and point out key price levels worth watching out for.

Potential Symmetrical Triangle Breakout

Micron shares have traded within a symmetrical triangle since September last year, potentially forming a continuation pattern ahead of another move higher.

More recently, the stock found buying interest near the triangle’s lower trendline and could break out above the pattern in Friday’s trading session after the company’s upbeat results.

Let’s apply technical analysis to Micron’s chart to identify three key overhead areas that investors will likely be watching and also locate a crucial support level worth monitoring during pullbacks in the chipmaker's stock.

Key Overhead Areas to Watch

Earnings-driven buying above the symmetrical triangle could see the shares initially make a move up to the $107 level. This area provides overhead resistance near the 50-week moving average and a horizontal line that connects a series of price points on the chart stretching back to April 2024.

A move above this area could spark a rally to around $130. Investors who have accumulated shares at lower levels may look for exit points in this region near last year’s April peak, which also closely aligns with a range of closing prices positioned just below the stock’s all-time high (ATH) set in June last year.