Mirion Technologies Inc (NYSE:MIR) shares are moving higher Friday. Stephanie Link, chief investment officer at Hightower, disclosed a fresh purchase of the stock. Here’s what you should know.
- Mirion Technologies stock is moving in positive territory. Why is MIR stock trading higher?
Mirion Gains After Hightower’s Stephanie Link Reveals New Position
Link went on CNBC’s “Halftime Report” to walk through the newest addition, Mirion Technologies. The partnership between Constellation Energy and Alphabet grabbed Link’s attention.
Under the 20-year agreement, the two companies will deliver 890 megawatts of nuclear power to the PJM grid. “Nuclear is here. Here to stay,” Link said.
Mirion Stock Reclaims Key Short-Term Averages
Mirion has climbed back over its 20-day and 50-day simple moving averages (SMA), which sit at $15.57 and $15.54. The stock also edges past its 100-day SMA of $16.35, a setup that helps explain why pullbacks are drawing buyers. The longer-term picture remains the main obstacle. Mirion trades 12.3% under its 200-day SMA of $18.95. The 50-day SMA still sits below the 200-day SMA following a March death cross, a signal that appears when the shorter average slips under the longer one.
Momentum is improving. The MACD indicator has moved above its signal line, and its histogram has turned positive. That combination suggests selling pressure is easing from the earlier decline. Put simply, buyers are gaining ground even though the bigger trend has not fully reversed.
Traders have clear levels to watch. Resistance sits at $17, a round number where rebounds can stall before the stock heads back toward its longer-term averages. Support sits at $15.50, close to the 20-day and 50-day SMAs, and that zone has acted as a “line in the sand” during the current bounce.
MIR Shares Are Rising
MIR Price Action: Mirion shares were up 2.71% at $16.65 at the time of publication on Friday, according to Benzinga Pro.
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