$MU setup is pure voodoo rn — stock split rumors swirling as it hits 4-digit territory.
NVDA and AVGO both dropped split bombs during earnings. $MU hasn't split since 2000. If they announce? Violent rip incoming. If they don't? Sentiment dump.
Technicals: Last week tagged 1100, now watching 1090 support. Break above = vacuum zone to 1150 gap fill, then 52w high at 1255.
Macro headwinds stacking: Core PCE Wed AM, NFP Friday. 10Y at 5.2%, oil at 94, Iran headlines ping-ponging. Hot inflation kills multiples no matter how clean the print.
TLDR: Need either the split catalyst or gross margin blowout. Otherwise? Chop city.
NVDA and AVGO both dropped split bombs during earnings. $MU hasn't split since 2000. If they announce? Violent rip incoming. If they don't? Sentiment dump.
Technicals: Last week tagged 1100, now watching 1090 support. Break above = vacuum zone to 1150 gap fill, then 52w high at 1255.
Macro headwinds stacking: Core PCE Wed AM, NFP Friday. 10Y at 5.2%, oil at 94, Iran headlines ping-ponging. Hot inflation kills multiples no matter how clean the print.
TLDR: Need either the split catalyst or gross margin blowout. Otherwise? Chop city.