$MU ‌ Guys, Micron just collapsed! In 24 hours, it fell more than 8%, hitting a low of $816, breaking through the daily MA99 “lifeline” straight away—longs were buried.


This sell-off isn’t unwarranted at all: a surprise antitrust investigation in South Korea, China’s ChangXin Memory’s massive IPO coming again to steal market share, plus Morgan Stanley’s warning that storage prices will top in Q4—multiple bearish catalysts triggered a chain liquidation of leveraged longs.
Near-term weakness is fully on display. The ceiling resistance overhead is pressing in the 860 - 870 zone. The downside floor support is firmly watching the 810 - 800 level.
MU2.21%
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