Micron Technology stock price forecast: Testing $787.64 support as MU drops nearly 11%

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Micron Technology slides 10.95% today

Highlights

Micron posted $23.9 billion in quarterly revenue, surging 75% quarter-over-quarter, fueled by robust high-bandwidth memory demand.
Long-term order books for high-bandwidth memory are secured through 2027, with Nvidia selecting Micron as a key supplier in AI.
MU/USD faces persistent bearish momentum and heavy selling, with price likely to consolidate between $787.64 and $934.19 over the next few days.

Long-term demand optimism offset by near-term selling pressure

Micron reported quarterly revenue of $23.9 billion, a 75% increase from the prior quarter and a 196% rise year-over-year, which highlights a surge in demand for high-bandwidth memory products according to TipRanks. Management further indicated that orders for these products are largely booked through 2027, reflecting strong long-term contracted demand. Micron was also selected by Nvidia to supply high-bandwidth memory, expanding its partnerships in the AI segment. These operational milestones have been accompanied by persistent concerns about broader memory-chip demand, as reported by moomoo.com and TipRanks, though price action has remained under broader selling pressure.

Bearish momentum confirmed as key support levels broken

On the technical front, MU/USD has broken below both its MA-20 ($997.30) and MA-50 ($995.36) on the hourly chart, while staying well above the long-term MA-200 on the daily timeframe at $357.07. Immediate resistance is defined by the Ichimoku Kijun level at $979.99. Momentum indicators confirm a bearish setup: the MACD and ADX both signal a strong sell environment, while the RSI stands at 20.23 and, along with Stoch RSI and CCI, indicates oversold conditions. The Bull/Bear Power (BBP) is negative, affirming intraday seller dominance, and the Awesome Oscillator supports the prevailing downtrend.

Downside risk prevails as volatility range tightens

In the short term, the expected trading range over the next 2 to 3 sessions is projected between $787.64 and $934.19, reflecting a volatility band relative to current levels. The probability of further downside is estimated at 71%, while chances for a rebound are limited to 29%, suggesting additional weakness remains likely. A baseline scenario anticipates consolidation within this range. A sustained move higher would require a break above the $979.99 resistance, while a drop below $787.64 would trigger a bearish extension.

Anton Kharitonov, expert at Traders Union, sees Micron’s confirmed revenue surge and strategic wins insufficient to offset pronounced technical and sentiment-driven weakness. He notes that key supports have been breached, and indicators remain firmly bearish, despite booked demand through 2027. In his view, further downside remains favored unless the price reclaims higher resistance levels. "Until MU/USD decisively breaks above $979.99, any rebound attempts are likely to be short-lived."

In a recent review, analysts noted that despite significant short-term volatility, Micron Technology maintained a broadly bullish long-term outlook supported by its strategic position in AI memory markets. With the current breakdown below short- and medium-term averages and persistent bearish momentum, traders should monitor for a decisive move outside the projected $787.64–$934.19 range as a signal for the next major trend.

Source of Data: MU Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.