MU: $1000 Reclaim or $950 Breakdown? Jul 6Micron Technology, Inc.NASDAQ:MUBullBearInsightsMarket research note: MU still has a strong AI-memory story, but the chart is now in a pullback/retest zone. Micron reported record fiscal Q3 2026 revenue of $41.46B, GAAP EPS of $24.67, and guided fiscal Q4 revenue to $50B ± $1B with EPS around $31 ± $1. Micron also said data center revenue exceeded $25B and that DRAM/NAND demand remains above supply, with tight conditions expected to persist beyond 2027. Reuters also reported Micron signed a long-term memory/storage supply agreement with GM, while DRAM prices have risen about 70% since December due to AI data center demand. Micron is still one of the strongest AI-memory names, but the chart is no longer clean momentum. MU had a huge run into the $1255 area, then pulled back hard and is now testing the rising daily trendline/support zone around $950-$1000. This is not a blind chase setup. The story is bullish, but the chart needs confirmation. Daily Chart The daily chart is still in a bigger uptrend from the April low, but MU is now testing the trendline after a sharp pullback from the $1255 high. This is a very important area because if buyers defend $950-$1000, the daily structure can still recover. If MU loses $950 with volume, the trendline support breaks and the chart can shift into deeper correction mode. Key Levels $1255: Major daily high and bigger upside target if momentum returns. $1200: Major GEX call zone and upside magnet if MU gets strong again. $1150-$1159: Upper resistance zone from the GEX chart. $1073: Recent 15m high and failed breakout area. $1050: HVL area on the GEX chart and major reclaim level. $1000: Psychological level and first major reclaim level. $977-$975: Current battle zone. $950: Key support and lower edge of the current structure. $900: Major downside GEX put zone if $950 fails. $835-$800: Deeper downside risk zones if selling accelerates. 15m Chart The 15m chart shows a clear rejection from $1073, followed by a selloff into $950.28. Price bounced, but only back into the $975-$985 area, so the short-term structure is still weak until MU can reclaim $1000. Right now, price is chopping under resistance. A move above $1000 would be the first sign that buyers are trying to regain control. Above $1000, the next important levels are $1050 and $1073. If MU loses $950, the 15m structure breaks again and $900 becomes the next major downside zone. GEX Positioning The GEX chart is the most important part here. Calls are showing around 74.7%, so there is strong upside options interest, but the GEX panel is red, which tells me the move can stay volatile and directional instead of calm/pinned. The $1050 HVL is a major level. Since price is below it, $1050 acts like an upside magnet only if buyers can first reclaim $1000. If MU cannot reclaim $1000, then $1050 stays overhead resistance. Above $1050, the next upside GEX levels are $1150, $1200, and $1250. Those levels only matter if MU can regain momentum. Below price, $950 is the first major support. If $950 breaks, the GEX downside opens toward $900, then $835-$800. IVR is very high around 91.7 and IV average is around 116, so options are extremely expensive. That means chasing calls or puts late can be dangerous. The better trade is to wait for level confirmation. Bullish Scenario If MU holds $950 and reclaims $1000 with volume, the first upside target is $1050. Above $1050, MU can try to push toward $1073, then $1150. A stronger bullish confirmation would be a daily hold above the rising trendline and a reclaim of $1050. That would tell me the pullback was only a trendline retest. Bearish Scenario If MU fails to reclaim $1000 and loses $950, I would be careful. That would confirm buyers failed to defend the daily trendline zone. Below $950, the next downside target is $900. If $900 fails, the chart can open toward $835-$800. Trade Consideration For me, the clean long setup is above $1000 with volume. I would not chase while MU is stuck around $975. The aggressive dip-buy area is $950 only if buyers defend it clearly. If $950 breaks, I would wait for $900 instead of trying to catch the falling knife. Conclusion MU has a very strong AI-memory fundamental story, but the chart is testing a key support area after a big pullback. The next move is simple. Above $1000 favors recovery toward $1050 and $1073. Below $950 opens the door toward $900 and possibly lower. This is still a momentum stock, but right now the trade needs confirmation. Let $1000 decide the recovery, and let $950 decide the breakdown.