Micron Technology: 2x Minimum Potential
Regarding Micron Technology, we believe we are dealing with an overarching Wave (3). This wave should reach at least the 161.8% extension level at $158. We've seen the Wave (2) low buy at $1.36, indicating significant parabolic momentum has been built up. Since that low, there's been an increase of over 5000%, which is staggeringly high. However, as rapid and high as a rise can be, the correction downwards is often just as intense. This is both clear and increasingly likely. Examining this chart, we believe that in Wave (3), the subordinate Wave 1 has now been fully developed. We believe this due to the structure leaving little room for other possibilities. We might climb a bit further for Wave ((v)), but we also anticipate a potential downward trend or a development of Wave 2. This should lie between 50% and 78.6%, where we identify two crucial support zones. One is the subordinate Wave ((iv)) around 50%, and another is a support zone just over 78.6%. These zones are ones we place significant trust in.
We've approached the old high four times at $97.71. We doubt we'll surpass this. If we do, we'll need to take a closer look at where Wave ((v)), Wave 1, and then Wave 2 precisely are. Nonetheless, we anticipate a three-wave movement downwards, as expected for the completion of Wave 2, at a minimum of 50%.
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