TradingKey – Micron stock plunges nearly 6% in a single day, triggering selling pressure and facing a potential 18% secondary bottom test.

On August 24 Eastern Time, Micron Technology (MU) experienced severe volatility around the $900 mark, plunging 7% intraday to a low of $887.60 before a subsequent rebound narrowed the decline to 5.83%, closing back at $910.43.

The sharp drop in Micron’s stock price was not caused by a single factor, but rather a combination of macroeconomic risk aversion and sector competition. Over the weekend, reports emerged that U.S. regulatory policy might allow Apple (AAPL) to source Chinese DRAM and NAND flash memory for certain product lines, sparking panic selling over fears that Micron’s supply chain share…