Most traders are looking at Micron into earnings. But don't count out Nike
Micron reports Wednesday after the bell and Nike results are out Thursday after the close.
TL;DR
- Micron's stock has risen 270% year-to-date but is consolidating in a wide range.
- Key support for Micron is seen at the 50-day moving average and recent AVWAP, coinciding with all-time highs and summer lows, around the $930-$960 range.
- Resistance for Micron is around old highs near $1250, with a potential breakout target of $1500.
- Nike is in a downtrend, down 43% in 2026, but shows potential for a short-term trade.
- Near-term bullish divergence in RSI and a signal from the stochastic indicate potential upside for Nike.
- Support for Nike is at $35, with achievable upside targets at the 50-day moving average ($39.39) and the declining AVWAP ($41.76).