Week 43 of 52 | MU Is the Uptrend Finally Breaking?Micron Technology, Inc.BATS:MURobert_V12I've been looking at MU's chart, and there's something interesting happening right now. It's not just the recent correction, but where the price is heading. Take a look at the black trendline. Since early 2025, MU has been following a pretty consistent pattern. Every major correction has eventually found buyers around that ascending support, and each recovery has pushed the stock toward new highs. Now we're approaching that same trendline again, following a roughly 30% decline from the recent peak near $1,250. So, is this another buying opportunity, or is the trend finally running out of steam? Let's talk about trend structure for a moment. One thing I've learned from watching charts is that a trendline alone doesn't tell the whole story. A stock can respect an ascending line for months, break below it for a few days, and then recover as if nothing happened. That's why I prefer looking at higher highs (HH) and higher lows (HL) together with the trendline. A higher high tells us buyers were willing to pay more than they did during the previous rally. A higher low tells us they stepped in before prices reached the previous major bottom. When both keep happening, we have an uptrend. And that's basically what MU has been doing throughout this rally. But here's where things get interesting. The price is now testing a trend that has worked for a long time, and the recent correction has been much more aggressive than some of the previous pullbacks. Does that mean the uptrend is over? Not necessarily. Actually, I think this is where many traders make a mistake. They see a stock falling 20–30% and immediately assume something must be wrong with the company or that the entire bullish structure has collapsed. But a 30% correction after a massive rally isn't the same as a confirmed trend reversal. What matters is what happens next. If MU finds buyers around the current support, rebounds, and eventually establishes another higher low, the broader uptrend could remain intact. On the other hand, if the price breaks the trendline, attempts to recover, and gets rejected below it, that's a different situation. Especially if the next decline takes out the previous significant swing low. That would give us something more concerning than just a broken trendline: a potential transition from higher highs and higher lows to lower highs and lower lows. And that's the real lesson here. A broken trendline is a warning. A change in market structure is stronger evidence that the trend may be reversing. The levels I'm watching $870–$900 — The first test This is the immediate area I'm watching. MU is approaching its long-term ascending support, and I want to see whether buyers are still willing to defend it. I wouldn't buy simply because the price touches the line. I'd rather see a convincing reaction first. $1,000–$1,030 — The recovery test If MU rebounds, this is one of the first areas I would watch. Recovering it would be encouraging, but I'd still want to see the stock hold a higher low afterward. A rebound alone doesn't guarantee the trend is healthy again. $770–$800 — If support fails If the current support breaks and sellers remain in control, this becomes my next area of interest. Not necessarily a price target, but somewhere I'd start looking for another reaction. $1,250 — The bigger picture Ultimately, bulls need to challenge the previous high to confirm that the larger rally still has room to continue. Until then, MU could spend some time consolidating or building a new price structure. One more thing worth mentioning Micron's business has benefited significantly from AI infrastructure spending and demand for advanced memory, particularly HBM. But even when a company is doing well, its stock can struggle. Why? Because investors aren't just buying today's earnings. They're making assumptions about what earnings will look like in the future. And the memory business has historically been cyclical. Strong demand, limited supply, higher prices, increased production, and eventually the possibility of oversupply. That's a cycle worth understanding when investing in companies like Micron. So while the fundamentals matter, I also want to see whether the price confirms that investors are still confident about what's ahead. Right now, the chart is giving us a level worth paying attention to. I'm not calling a bottom here, and I'm not calling the end of the bull market either. I simply think MU is approaching a point where the next few weekly candles could tell us a lot about the health of its trend. For now, I'm watching the reaction around the ascending support and, more importantly, whether the stock can preserve its higher-low structure. We've seen this trendline work before. The question is whether buyers will show up again. What do you think? Another higher low in the making, or the beginning of a bigger correction?