July 17 Chart of the Day - Micron Technology

Precision oriented price action technical analysis by far provides the best edges and most setups for traders and investors across the markets so that's what we use for the basis of our reviews

Micron Technology (MU), along with other semiconductor / AI related stocks, fell hard today so we wanted to take a look at their chart from a price action technical analysis perspective.

We have featured over 250 Charts of the Day since May 2023 and teach Price Action Trading for FREE  to traders who join our Highly Rated Trade Room.

Monthly Chart 

On the monthly chart we can see that after setting its $157.54 all time high (ATH) just a few short months ago price fell dramatically melting through a few potential support levels in "free fall like mode" still in search of a next bottom..

The bulls have yet to step in with any lasting conviction and price could just keep dropping like a rock.

Weekly Chart

 
On the weekly chart we can see with much more clarity the dramatic fall from ATHs and where price briefly shot up over $150 then reversed starting a downward cycle.

Trading around $120 today price has been attempting to reverse its downfall but has yet to be successful.

Only time will tell for sure what price will do next...

We've layered in traditional Fibonacci levels as well as support/resistance and trend to help identify potential price levels of interest and/or future price targets.

Armed with precision oriented charts like these both traders and investors can formulate their respective plans.

So what's next?