Micron at $861, down 29% from its 3-month high. The memory cycle might be turning ā but the chart says patience.
MU is in a clear downtrend with RSI at 46.1 and declining volume. Price is below SMA20 ($884) and SMA50 ($969), which means the bears are firmly in control of the intermediate trend.
š Technical Snapshot
ā¢ Price: $861 (-1.9%)
ā¢ Trend: Downtrend ā below key moving averages
ā¢ RSI: 46.1 (neutral-bearish)
ā¢ Volume: Declining (0.66x average) ā lack of conviction
ā¢ From 3-month high: -29.1%
šÆ Key Levels
ā¢ Support: $762 (critical ā if this breaks, next stop is $681)
ā¢ Resistance: $884 (SMA20) ā $970 (SMA50)
ā¢ For a long entry: Need to reclaim $884+ with volume
š” The Semiconductor Story
Memory stocks are cyclical by nature. MU is 29% off highs, which historically has been a decent entry zone ā but timing the exact bottom is hard. Better to wait for a base to form.
Are you accumulating semis here or waiting for more pain? š
#Micron #Semiconductors #DYOR
ā ļø Not financial advice. Always do your own research and manage risk carefully.
MU is in a clear downtrend with RSI at 46.1 and declining volume. Price is below SMA20 ($884) and SMA50 ($969), which means the bears are firmly in control of the intermediate trend.
š Technical Snapshot
ā¢ Price: $861 (-1.9%)
ā¢ Trend: Downtrend ā below key moving averages
ā¢ RSI: 46.1 (neutral-bearish)
ā¢ Volume: Declining (0.66x average) ā lack of conviction
ā¢ From 3-month high: -29.1%
šÆ Key Levels
ā¢ Support: $762 (critical ā if this breaks, next stop is $681)
ā¢ Resistance: $884 (SMA20) ā $970 (SMA50)
ā¢ For a long entry: Need to reclaim $884+ with volume
š” The Semiconductor Story
Memory stocks are cyclical by nature. MU is 29% off highs, which historically has been a decent entry zone ā but timing the exact bottom is hard. Better to wait for a base to form.
Are you accumulating semis here or waiting for more pain? š
#Micron #Semiconductors #DYOR
ā ļø Not financial advice. Always do your own research and manage risk carefully.