Micron Technology Inc (NASDAQ: MU) stands as one of the largest semiconductor producers in the USA. It trails only giants like NVIDIA and Intel. In recent months, the stock price doubled to a milestone above $1000. This article explores the bullish Elliott Wave structure behind MU's upward trajectory. Our analysis highlights potential advances and key targets for investors.
Since its April 2025 low, MU started a new impulsive advance within wave (III). This created a bullish nesting structure. The current rally shows an incomplete sequence within wave ((3)) of III. Therefore, this represents the strongest wave of the entire cycle.
The stock's initial target sits at the $1159 - $1278 equal legs area. However, this zone will not stop the rally. The full extension comes at the $1472 Fibonacci 1.618 level. MU could face some profit-taking there as the third wave extension ends.
Investors will continue seeking buying opportunities during fourth wave pullbacks. These corrections will appear within daily timeframes.
MU Weekly Chart 6.3.2026
The following video offers a technical outlook for Micron Technology:
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Conclusion
Micron Technology maintains a strong bullish trend. The stock appears ready for additional gains. Consequently, traders should focus on entry points during daily dips.
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