Micron Stock slides toward $704 support as CEO sells $37M near record highs
Micron Stock faces one of its sharpest near-term corrections, with MU collapsing toward critical support. After surging 637% in a year on AI-driven memory demand, the stock closed July 29 at $739. The daily trend has turned decisively against bulls.
Key takeaways
- MU closed at $739 on July 29 after an intraday range from $832.92 down to $737.88.
- Daily RSI at 35.69 and a widening MACD histogram confirm accelerating downside momentum.
- The CEO sold $37 million in shares as the stock declined from record highs.
- Key support sits at $703.99 (daily S1); resistance to reclaim starts at $772.89.
- The long-term EMA200 at $588.74 remains a distant structural floor.
Micron Stock Daily Chart: The Main Bias Is Bearish
The daily chart bias is decisively bearish. MU trades well below key moving averages, and momentum indicators confirm sustained selling โ not a brief shakeout.
Moving Averages Turn Into Overhead Resistance
The daily structure has deteriorated significantly. MU is trading well below the EMA20 at $920.67. It also sits beneath the EMA50 at $896.30. Both moving averages once acted as support. Now they form overhead resistance. Only the EMA200 at $588.74 remains well below price, offering a distant long-term floor. The gap between current price and the 200-day average shows how far Micron Stock has fallen. It also highlights how much room remains before structural support comes into play.
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