Micron stock tanks 17% as AI chip selloff deepens: What's next?
Micron Technology shares witnessed a massive selloff on November 5, plunging 17.46% to close at $656.39, their lowest level in nearly six months. The stock also touched an intraday low of $650 as investors dumped semiconductor and AI-related stocks amid growing concerns over the outlook for the AI t…
TradingKey identifies $650 as an important immediate support level for Micron. A sustained break below this level could expose the stock to further downside towards $500, with another potential support zone at $450-$470. On the upside, a recovery could take shares towards $700-$737.88, followed by a potential test of the $752-$795 gap zone. These are technical scenarios, not guaranteed price targets.
(Disclaimer: This slideshow is based on inputs from agencies. These do not represent the views of The Economic Times)
Source: ET Markets
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