Micron sharpens decline - Analysis - 17-08-2018

Micron Technology's stock settled below 50.22, a level that represents the ratio 38.2% of Fibonacci retracement levels for an ascending wave in the short term (From 26.85 to 64.66), while getting weighed down by breaching the main upward trend line recently, registering thereafter a loss of 0.82%, or 0.39 points, while readying to tackle the support of 45.76. 

Therefore we expect more losses for the stock, targeting the next support at 45.76, which represents the ratio 50% of the same retracement levels, as long as the support of 50.22 holds on.