Shares of Micron Technology (NASDAQ:MU) hit a major support trend line for the 4th time on Wednesday. Each hit weakens the support level and makes it more likely the next move will break it. If Micron breaks this major support level, the stock will flush to $34 from its current price of $42.05. The selling pressure on the stock in the last week has been intense with institutions dumping heavily. Something is likely happening here and investors should be watching this trend line very closely.
if it holds, Micron Technology has a neutral-to-positive rating. If the trend line breaks, look for a massive dump.