Micron Shares Slide 3.02% to $156.83 Amid Technical Resistance Sell-Off

Micron Technology (MU) shares declined by 3.02% to $156.83 in the latest session, marking a two-day cumulative drop of 5.76% as selling pressure intensified near technical resistance. This retreat occurs within a broader context of elevated volatility, warranting a detailed technical assessment using multiple methodologies.
Candlestick Theory
Though open prices are unavailable, recent price action reveals a rejection near the $170.45 peak (2025-09-18), establishing it as a formidable resistance level. The subsequent decline violated the psychological $160 threshold, with the $154.65 intraday low from the latest session now serving as immediate support. A confirmed breach of this level may target secondary support near $153.21 (2025-09-12 low), while recovery above $161.71 is needed to neutralize near-term bearish momentum.
Moving Average Theory
The 50-day moving average (approx. $148) and 100-day moving average (approx. $128) remain positively sloped, confirming the dominant uptrend. However, the price now hovers just above the 50-day MA—a critical inflection point. Sustained trading below this level would signal weakening medium-term momentum. The 197-day moving average (proxy for 200-day MA at approx. $110) continues its ascent, affirming the long-term bullish structure.
MACD & KDJ Indicators
The MACD histogram shows weakening bullish momentum, with the signal line threatening to cross below the MACD line—a potential bearish crossover. KDJ oscillators have exited overbought territory (>80) following the recent sell-off, with the %K line accelerating downward. While not yet oversold, this deterioration signals waning upward momentum and raises near-term caution.
Bollinger Bands
Volatility expansion occurred during the drop below $160, with price penetrating the lower Bollinger Band ($158) before closing back within the bands. This rejection may indicate a temporary oversold bounce, but the constriction of bands preceding the decline highlights latent directional energy. A sustained break below the lower band would reinforce bearish control.
Volume-Price Relationship
The sell-off was validated by elevated volume ($5.03B), exceeding the 30-day average. This distribution pattern signals conviction behind the downturn. Conversely, the preceding rally toward $170 saw diminishing volume, reflecting wavering bullish participation and foreshadowing vulnerability to reversal.
Relative Strength Index (RSI)
The 14-day RSI retreated sharply from near-overbought levels (68) to its current 45 reading, erasing prior divergence concerns. While neutral now, the velocity of this descent suggests downside momentum could persist before reaching oversold territory (<30), with the $153–$154 zone becoming critical for potential stabilization.
Fibonacci Retracement
Applying Fibonacci to the $84.68–$170.45 upswing, key retracement levels emerge: 23.6% ($150.21), 38.2% ($137.71), and 50% ($127.57). Current trading near $156 places Micron between the 0% and 23.6% levels. A decisive breach below $150.21 would confirm deeper retracement potential toward $137.71. Confluence exists here with the 100-day MA and volume-supported $140–$142 historical base.
Confluence and Divergence Observations
Confluence of support forms near $150.21 (Fibonacci 23.6%) and $148 (50-day MA), making this zone crucial for maintaining the uptrend. Divergence appeared earlier between price highs and declining RSI/moderate volume during the September peak, now resolved through the correction. Bearish alignment currently prevails with volume confirmation of breakdowns, though Bollinger Band rejection indicates potential near-term consolidation.