Micron Shares Trade 1.73% Below Monday's Close Before CPI Release

Micron Technology, Inc. (MU) was quoted 1.73% below Monday’s close in Tuesday premarket trading, reversing part of the previous session’s gain before the release of U.S. October inflation data.

The stock was quoted at $720.46 at 8:15 a.m. ET, compared with Monday’s $733.15 close. Micron had gained 6.25% Monday after falling more than 17% on Nov. 5.

The daily pivot was $722.51 and first support was $700.29. Both are calculated reference points based on the prior session’s prices. At the time of the premarket quote, Micron was below the pivot and above first support.

The U.S. Bureau of Labor Statistics scheduled the October Consumer Price Index for release at 8:30 a.m. ET, 15 minutes after the Micron quote. Consumer prices rose 0.4% from September on a seasonally adjusted basis, following a 0.6% increase in September. The earlier stock quote does not show how Micron traded in response to the release.