MU, ON and WDC Forecasts – AI-Related Continues to Attract Traders

MU Technical Analysis

Micron looks like it’s going to jump right off the bat in trading on Wednesday as the premarket has been very strong. Micron continues to see analysts raise price targets and of course that has people chasing this market. All things being equal, it’s a very strong uptrend anyway, so none of this should be a surprise. And after the monster day that Micron had on Tuesday, a little bit of follow-through makes quite a bit of sense here. I think we’re going to try to get to the $1,000 level.

ON Technical Analysis

ON Semi looks like it is going to jump right off the bat as well. I think we have a chance for this thing to really take off to the upside. We have broken above the $120 level in the last day or so and it now opens up the possibility of a much bigger drive higher. Short-term pullbacks, I think, open up the possibility of buying a bit of value as well. I have no interest whatsoever in trying to short this market and I think it has a pretty bright future.

WDC Technical Analysis

Western Digital looks like it is going to jump also, and now I think there’s a good chance that we go looking towards the $600 level over the next several sessions. Short-term pullbacks open up the possibility of finding a bit of value near the $525 level. Ultimately, this is a market that buyers look for value and then they take advantage. Western Digital is one of the big players out there for a whole plethora of AI-related products, so I think this continues to be a place where traders try to get involved.

If you’d like to know more about technical analysis and how traders use it, please visit our educational area.