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MU Analysis - Micron Consolidating at 940.97 After 1,036.10 Parabolic Spike

Micron Technology, Inc. is consolidating after a vertical rally from 737.88 low. MU is trading at 940.97 dollars up 8.38 points or +0.89 percent. Intraday range is 945.67 high and 924.60 low with Open 925.74 and Prev Close 932.59. Range percent is 2.25 percent. P/E TTM 21.287, P/E LFY 124.077, Market Cap 1062.67B dollars.

The 4h chart shows a clear reversal structure. From July 22 around 1000 dollars, MU dropped sharply to 737.88 on Aug 3 with capitulation wick, forming the bottom. From Aug 3 bottom, it rallied steadily to 945 on Aug 13, then spiked vertically to 1,036.10 on Aug 18 with a long upper wick showing extreme FOMO, then corrected 4 days to 850 zone, and now recovering to 940.97.

Support and Resistance Zones

Support:
1. 929.52 - 930.02 Zone - Immediate Support: MA30 at 929.52 and MA5 at 930.02. Price at 940.97 is just above this cluster. This is the most critical intraday support. Holding above this keeps bullish structure. 2. 924.60 Zone - Intraday Low Support: Today's low at 924.60. This level was resistance on Aug 22-24 and is now support. A 4h close below 924.60 would trigger pullback to 904.32. 3. 904.32 Zone - Strong Support: Level marked on right axis. This was the breakdown low after the 1,036.10 top. Losing this would open deeper correction to 813.63. 4. 737.88 Zone - Major Bottom: Absolute low from Aug 3 marked on chart. This is the line that must never break for the uptrend from 737.88 to 1036.10 to remain valid.
Resistance:
1. 942.08 - 945.67 Zone - First Resistance: MA10 at 942.08 and today's High at 945.67. Price is currently just below MA10. Reclaiming and closing above 945.67 is required for continuation to 1000 dollars. 2. 995.01 Zone - Psychological Resistance: Level marked on right axis just below the spike. This is supply zone before the top. 3. 1,036.10 Zone - Major Top: Peak marked with wick rejection on Aug 18. This level had massive volume spike and rejection. A daily close above 1,036.10 with volume would open 1,085.71 target.
What to Watch
1. MACD -4.15 Bearish Crossover: MACD at -4.15, DIF at 5.73, DEA at 9.88. MACD is negative and DIF is below DEA after being above. Histogram turned red after 3 green candles. This indicates momentum is cooling after the spike. However DIF still above 0 shows bullish trend is not broken yet, just consolidating. 2. MA Compression: MA5 930.02, MA10 942.08, MA30 929.52 are all squeezed within 1.3 percent of each other around 930-942 zone. This is a tight consolidation after a big move. A squeeze breakout above 945.67 would be bullish, breakdown below 929.52 would be bearish. 3. News Catalyst: Headline shows "Storage Stocks Surge on Wednesday; Neocloud Sh..." - Storage sector surge driven by AI memory demand. MU is benefiting from HBM and DDR5 pricing power. This narrative supports holding above MA30. 4. Parabolic Top Risk: The move from 737.88 to 1,036.10 is 40.4 percent in 15 days. Such vertical moves need time to digest. The current 940.97 level is 9.1 percent below top, which is healthy consolidation, not reversal.
In summary, MU is in healthy consolidation after parabolic spike to 1,036.10. Current 940.97 is sitting above key MA30 support at 929.52. Holding above 929.52 and 924.60 keeps target at 945.67 and then 995.01, with path to retest 1,036.10. Losing 929.52 would trigger deeper pullback to 904.32. Low P/E TTM at 21.287 versus LFY 124.077 shows earnings turnaround is priced in.

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