TradingKey – As of the close on August 27 Eastern Time, Micron (MU) stock reached an intraday high of $968.71 before pulling back to close at $935.39, down 0.32% for the day. Judging from recent trends, Micron has weakened noticeably since touching a phase high of $1,036.13 on August 17. On August 24, it dropped as much as 5.83% to $910.43 at one point. Although it subsequently rebounded, it has temporarily failed to regain a firm footing in the $950–$1,000 range, remaining in a short-term consolidation phase at elevated levels.

Micron daily stock chart, Source: TradingView

Judging from the daily chart of Micron’s stock price, as the stock broke through the rebound high of $1,011.77 from July 23 on August 17, the recent candlestick…