Micron $MU dropped to 864, and to be honest, I'm starting to get a bit anxious. I asked GPT about it, and it said the chances of a bounce back are higher, reason being that 864 is a crucial support level, and the 200-day moving average is hanging around this area. HBM demand hasn't changed, and with the earnings report coming up on June 24, we can expect some speculative buying to gradually surface. Claude also added: the performance hasn't deteriorated.
From 1000 down to 864, that's roughly a 14% drop. Looking back at Micron's history, it's gone through 15% to 20% corrections multiple times, and each time it ended up hitting new highs afterward. Maybe this is just 'business as usual' for Micron.
But logic aside, when it really drops, fear kicks in. I've decided to mentally prepare for a fall to 800; having a baseline in mind is definitely better than being swayed by the market. What do you all think?
From 1000 down to 864, that's roughly a 14% drop. Looking back at Micron's history, it's gone through 15% to 20% corrections multiple times, and each time it ended up hitting new highs afterward. Maybe this is just 'business as usual' for Micron.
But logic aside, when it really drops, fear kicks in. I've decided to mentally prepare for a fall to 800; having a baseline in mind is definitely better than being swayed by the market. What do you all think?