Micron Sinks 8% to $913.27 on China Chip Fears as $902 Support Comes Into Focus
Updated
Updated · The Cryptonomist · Jul 15
Micron Sinks 8% to $913.27 on China Chip Fears as $902 Support Comes Into Focus
3 articles · Updated · The Cryptonomist · Jul 15
Summary
Micron closed at $913.27 after an 8% intraday slide from a $975.80 open, with the sell-off triggered by renewed fears that Chinese memory-chip makers could intensify competition.
Technical signals worsened across timeframes: the daily MACD histogram fell to -26.01, RSI slipped to 44.91, and the stock finished below its $921.55 daily pivot while only narrowly holding above the $902.62 EMA50 support.
On the hourly chart, MU traded below its 20-, 50- and 200-period EMAs, with RSI at 39.77 and Bollinger-band support near $882.58, pointing to further downside risk if selling resumes.
The drop also pulled Intel, AMD and Marvell lower, even as Micron's longer-term AI-memory story remains intact and the stock still sits well above its $556.59 EMA200.
The next few sessions are pivotal: reclaiming $921.55 would ease pressure, while a daily close below $902.62 could open the way toward $865.41 and the $861.21 lower Bollinger band.