Check out this price pattern!
I find it amazing that history so often repeats itself. Here’s Micron Technology making the almost exact same price pattern almost five years later.
First is when Micron tops out in September 1995 at a split adjusted $47.375. From there the pattern continues down to a low of $8.313 in July of 1996.
Fast forward to the year 2000. Micron makes an all time high at $97.500 in July 2000. Then it’s all the way down to $16.383 by September 2001.
Here’s the kicker: Micron has split 2:1 on May 2, 2000. If you do the math and calculate the pre-split prices for the previous high-to-low (1995-1996), you get these prices:
* pre 2:1 split prices
Notice how close those high and low prices actually are to the most recent high-to-low cycle! This is probably one of the best examples of price symmetry over a long period of time.
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