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Micron Technology (MU) stock is surging by as much as nearly 14% on Tuesday after UBS raised its price target on the memory chipmaker to a Wall Street-high view of $1,625 from its previous forecast of $535.
On May 12, I wrote about Micron's relative strength index, or RSI, hitting 85. That was one of the most extreme overbought readings on the daily chart, before the stock pulled back over 7% during the session to breathe. The technical signal was real. So was the concern about chasing a stock up 700% ...