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Micron Just Fell Into a Black Hole as Charts Forecast a Breakdown

Shares of Micron Technology (MU) have rallied 125% over the last year, reflecting the strength in the memory-chip space, but there is a transition underway that could be signaling a reversal in the trend. The stock has been trading in a horizontal channel for the last two months and, after recently breaking below a long-term uptrend line and its rising 50-day moving average, it is now retesting channel support.

The first time it touched this level was in early June and then later that month...