Micron Cracks Key $820 Support, Next Floor at $660
MU has more than doubled off its 52-week low of $103.38.
Summary
Micron shares broke below the critical $820 support level on Wednesday, sliding under $780. This level had been a floor since June, built by buyers who previously sold at $820 and wanted back in. With that support gone, sellers are now in control and the next meaningful support sits at $660. The breakdown signals a potential shift in momentum after a massive rally that pushed the company past a $1 trillion market cap in May. Traders will watch whether the stock can stabilize or if the decline accelerates toward $660.
At the time of this announcement, MU was trading at $775.75 on NASDAQ in the Technology sector, with a market capitalization of approximately $876.1B. The 52-week trading range was $103.38 to $1,255.00. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Benzinga.