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Technical analysis for Micron (MU), the shares reached the first target for the bearish run on the weekly chart, the 1.272 FIB extension at 48.50$. The second target is the 0.786 FIB retracement on the weekly chart at 43.50$, which is also the 0.618 FIB retracement on the monthly chart. A break below 43.50$ will open the door for a further decline in the shares of Micron (MU) toward the 1.618 FIB extension on the weekly chart at 37.00$.
In case of a pullback in the price of the shares of Micron (MU), the first target is the 0.382 FIB retracement on the daily chart at 55.00$. The second target is the 0.618 FIB retracement at 60.00$. The third target is the resistance zone between 65.00$-68.00$.
Daily chart:
Weekly chart:
Monthly chart:
