TradingKey – Micron plunges 25% in a single month, falling below the $800 mark as technicals warn of a potential further 30% drop.

On November 5 Eastern Time, Micron Technology (MU) extended its downward trend, falling nearly 3% in overnight trading to touch a low near $760. Over the past month, battered by multiple negative catalysts, Micron’s stock plunged more than 25% in a single month, officially breaching the $800 round-number mark yesterday. The market is deeply concerned about whether Micron will slide further toward $500, facing a secondary bear-market valuation correction of over 30%.

The primary drivers behind the recent plunge in Micron’s share price are warnings of deteriorating NAND supply-demand conditions and softening…