867 dollars for $MU , do you dare to bottom-fish?

First, look at the surface: bad news blasting nonstop, panic-driven stampede.
From the June historical high of 1255, it plunged 30% to 852; then it fell another 4–5% in a single day. Over 5 days it dropped more than 10%, and in a month it’s down over 20%. Trading volume has clearly surged—longs are getting slaughtered.
The price action tells you this: 850 is supported by the 50-day SMA plus the early-stage “double bottom” pattern. RSI has slipped from overbought back to neutral—panic has reached an extreme. A rebound is just about ready to ignite.
First thing: are Koreans grabbing orders? You might be getting led by the narrative.
China’s CXMT competition, SK hynix’s IPO “bloodletting”—the media piles all the negative headlines onto your face, making you think “Micron is finished.”
But if you look closely—Micron has just signed multi-year AI memory supply agreements with Qualcomm, Denso, and Mobis.
If major customers sign long-term contracts, what does that mean? Capacity is already locked in.
Same kind of news—first it gets used to smash the price, but the second time the market outright ignores it. What does “panic is overdone” look like? This is it. Retail investors are still wildly cutting losses while KeyBanc has already raised its target price to 1750.
Second thing: HBM is the “chip bottleneck” for AI, and Micron is the only U.S. player.
Even if Nvidia’s AI chips are powerful—without high-bandwidth HBM memory, they’re basically scrap.
Micron is one of the world’s top three HBM manufacturers, and the only one that manufactures locally in the United States.
The supply-demand gap is expected to persist until 2027—shortage will remain, and the logic behind price increases stays the same.
Last quarter’s earnings report: EPS exceeded expectations by 20%+ with a big revenue jump. The stock is down 30%, yet the company is making more money than before.
Third thing: a technical signal has appeared that you must take seriously.
850 is support from the 50-day SMA plus a prior breakout level. On the 4-hour chart, a bullish reversal candlestick pattern has formed. MACD is about to produce a golden cross, and RSI has cooled back to neutral.
But 950–982 is the first strong resistance zone. Will it break straight back above 1000, or will it get smashed back down to 800?
Key levels
Resistance above: 950–982 → 1030+ → 1200–1500
Support below: 850 → 817–800
For short-term traders:
Around 850, go long in small batches with light position sizing. Stop-loss at 820. First target: 950–982.
For swing traders:
Wait for the daily chart to regain 950 on expanding volume, then enter heavy on the right side. Targets: 1200–1500. If 850 breaks down, stay sidelined and bottom-fish in the 800 area.
For long-term believers:
Build positions in batches below 850. The AI memory super-cycle isn’t over—this is just a violent shakeout halfway up the mountain. The 2027 target is 1500–1750, betting on sustained HBM shortages plus Micron’s advantage as the only U.S. domestic manufacturer.
But remember—set your stop-loss. The semiconductor sector is even more brutal than crypto.
#PreIPOsSeason2OpenAISubscription