🔵 Micron (MU) at $823 — down 32% from its 3-month high. Value trap or semiconductor steal?
MU continues its downtrend, dropping another -5.9% today. RSI at 43.8 is leaning bearish, and price sits below ALL major moving averages (5D: $831, 20D: $912, 50D: $965). This stock has no technical support above it.
📊 The Setup:
• 3-month range: $542 - $1,214 (currently 32% off high, 52% off low)
• Key support at $699 — that's another 15% below
• Resistance at $1,088 — a long road back
• Volume normal (1.11x) — no panic, just steady selling
🔑 Key Logic: Memory chip demand is cyclical. MU is cheap vs. highs but the trend is clearly down. The semiconductor sector needs a catalyst (AI server demand, HBM ramp) to reverse.
📍 Levels: Support $699 | Resistance $1,088
Buy the dip or wait for the trend to turn? 🤔
#Micron #MU #Semiconductors #Stocks #Trading
⚠️ Not financial advice. DYOR. Stock markets carry inherent risk.
MU continues its downtrend, dropping another -5.9% today. RSI at 43.8 is leaning bearish, and price sits below ALL major moving averages (5D: $831, 20D: $912, 50D: $965). This stock has no technical support above it.
📊 The Setup:
• 3-month range: $542 - $1,214 (currently 32% off high, 52% off low)
• Key support at $699 — that's another 15% below
• Resistance at $1,088 — a long road back
• Volume normal (1.11x) — no panic, just steady selling
🔑 Key Logic: Memory chip demand is cyclical. MU is cheap vs. highs but the trend is clearly down. The semiconductor sector needs a catalyst (AI server demand, HBM ramp) to reverse.
📍 Levels: Support $699 | Resistance $1,088
Buy the dip or wait for the trend to turn? 🤔
#Micron #MU #Semiconductors #Stocks #Trading
⚠️ Not financial advice. DYOR. Stock markets carry inherent risk.