MU broke 818 setting up 5th or 3 of 3 - 1880?

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Shares of Micron Technology may have entered the most explosive phase of its entire Elliott Wave structure after decisively breaking to new all-time highs above 818 and surging toward 888. What previously looked like a completed zigzag correction near 653 is now increasingly being interpreted as the launch point for either a major fifth-wave advance — or potentially something much larger: a powerful third-of-third impulsive move tied to the accelerating artificial intelligence infrastructure cycle.

The technical picture changed dramatically once Micron reclaimed and broke through the prior all-time high region near 818. In Elliott Wave analysis, breakouts above major prior highs following completed corrective structures often serve as confirmation that the market has transitioned from correction back into impulsive trend behavior.

That now appears to be exactly what is unfolding.

Earlier wave analysis suggested Micron had likely completed a Wave 4 zigzag correction after collapsing into the 653 region before reversing sharply higher. The decline itself displayed classic capitulation characteristics:

Once the correction completed, momentum began rebuilding rapidly. The stock reclaimed major resistance levels, stabilized above key support zones, and then accelerated into a breakout through all-time highs.

Now trading around 888, Micron appears to be entering the vertical acceleration phase that often accompanies strong impulsive Elliott Wave structures.

The first major upside projection comes from a standard fifth-wave extension relationship using .618 of Wave 1 added to Wave 3.

0.618 \times (W1 + W3) \approx 1122

Under that scenario, Micron’s current breakout could ultimately carry toward approximately 1122 as part of a standard fifth-wave advance.

That target alone would represent a substantial continuation move from current levels and would confirm that the recent correction was merely a pause within a much larger secular uptrend.

However, the more aggressive interpretation now attracting attention among Elliott Wave traders is the possibility that Micron is not simply entering Wave 5 — but instead beginning a third wave of a much larger third-wave structure.

In Elliott Wave theory, third waves of third waves are frequently the most explosive and emotionally powerful portions of an entire market cycle. These phases are characterized by:

Under that larger bullish scenario, traders are projecting a significantly higher upside target near 1880.

1.618 \times \text{Wave 1} \approx 1880

While that projection may initially appear extreme, the broader semiconductor sector continues benefiting from one of the strongest secular growth backdrops seen in decades.

Micron sits directly at the center of several massive long-term trends:

As artificial intelligence workloads continue expanding globally, memory systems are becoming increasingly critical bottlenecks within the semiconductor ecosystem. That has dramatically improved the long-term growth outlook for companies involved in advanced memory production.

Psychologically, the current breakout also reflects a classic transition from disbelief into momentum expansion. During the collapse into 653, bearish sentiment likely became extremely elevated as traders feared a much deeper correction. Instead, the stock completed its zigzag structure, stabilized, reclaimed lost ground rapidly, and has now exploded into new all-time highs before many participants fully repositioned.

Those types of breakouts frequently create feedback loops:

That dynamic can fuel vertical price acceleration once prior resistance levels are cleared.

The breakout above 818 is especially important because former all-time highs often transition into major support once broken decisively. If Micron can now sustain price above the breakout region while continuing to build impulsive structure higher, the probability increases substantially that the larger bullish wave interpretation is correct.

Confirmation will still matter moving forward. Traders will closely monitor:

At the same time, volatility is likely to remain elevated because high-momentum semiconductor names often experience violent swings during impulsive wave advances.

For now, however, the technical evidence increasingly supports the bullish case. Micron completed a major zigzag correction near 653, reversed aggressively from capitulation conditions, reclaimed all-time highs above 818, and is now trading near 888 with momentum continuing to expand.

If the current structure truly represents the beginning of a fifth-wave advance, the path toward the 1122 region may now be opening. And if the much larger third-of-third scenario is unfolding, Micron could potentially be entering the strongest phase of its entire long-term bull cycle — with far more aggressive upside projections eventually coming into focus.