Micron (MU) and Sandisk (SNDK) have both experienced significant upward movements, indicating a recovery in the memory-chip sector. MU has decisively cleared its 50-day moving average (MA), signaling a bullish short-term catalyst within its long-term uptrend. This breakout is supported by a positive shift in the daily MACD, suggesting renewed momentum after a recent pullback.
MU's price has the potential to reach its prior all-time high near $1,255. Similarly, SNDK is also gapping above its 50-day MA, confirming a short-term breakout with improved momentum as indicated by its daily MACD. SNDK's prior all-time high is near $2,354.
Both stocks are regaining relative strength against the S&P 500 Index (SPX), indicating that their rallies are not merely market-driven but part of a broader leadership phase for memory-chip stocks. However, the monthly charts for both companies require follow-through into month-end to maintain their bullish momentum and avoid potential long-term sell signals.
Overall, the technical setups for MU and SNDK are constructive, suggesting they could lead the memory trade if they sustain their upward trajectories