Micron Technology (MU) Elliott Wave Analysis: Bullish Path Ahead

Micron Technology Inc (NASDAQ: MU) stands as one of the largest semiconductor producers in the USA, trailing only giants like NVIDIA and Intel. In recent months, the stock price doubled to a milestone above $1,000. This article explores the bullish Elliott Wave structure behind MU’s upward trajectory, highlighting potential advances and key targets for investors.

Since its April 2025 low, MU started a new impulsive advance within wave (III), creating a bullish nesting structure. The current rally shows an incomplete sequence within wave ((3)) of III - the strongest wave of the entire cycle.

The stock’s initial target sits at the $1,159–$1,278 equal legs area. However, this zone will not stop the rally. The full extension comes at the $1,472 Fibonacci 1.618 level, where MU could face some profit-taking as the third wave extension ends.

Investors will continue seeking buying opportunities during fourth wave pullbacks, which will appear within daily timeframes.