Micron Technology Inc. (NASDAQ: MU), a worldwide manufacturer and marketer of semiconductor devices, is soaring in mid-day trading today, extending its gains for the week. MU has rebounded sharply this week after seeing significant selling pressure last week.
MU had fallen sharply last week after the company reported disappointing quarterly results. MU is currently trading 4.37% higher at $6.92 on volume of 14.93 million, which is below the daily average volume of 23.85 million. MU has gained more than 13% this week. The stock has broken through $6.80 resistance level as a result of the three-day rally. Technical indicators for the stock are pointing to further gains.
Groupon Inc. (NASDAQ: GRPN), the daily deals site, is also up sharply in mid-day trading today, extending its gains for the week. At last check, GRPN was trading 3.43% higher at $5.12 on volume of 7.39 million, which is over a third of the daily average volume of 19.43 million.
GRPN has gained more than 7% in the last three trading sessions. The stock has broken through $5 resistance level as a result of the three-day rally. The next resistance level for GRPN is at around $5.50. The stock could see a pullback from this level.
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