BullBull Technical Intelligence Unit | Micron Technology Hits New High Ahead of Earnings Test; ARK Invest's 'Bottom-Fishing' Entry Points for SpaceX Analyzed

$Micron Technology (MU.US)$On June 22, it announced a multi-year memory and storage supply agreement with Anthropic and made a strategic investment in Anthropic’s Series H funding round. Following the announcement, its share price jumped 6.82% that day, pushing its market capitalization above $1.37 trillion and setting a new 52-week high.Notably, Micron Technology is set to release its latest earnings report this week, creating a confluence of fundamental catalysts and accelerating technical momentum.

$SpaceX (SPCX.US)$ On the financing front, on June 22 the company launched its inaugural public bond offering, planning to issue at least $20 billion in senior unsecured notes with maturities ranging from 5 to 30 years.The market interpreted this move as a signal of debt repayment pressure, causing the stock to decline for the third consecutive trading day. On June 22, the intraday loss widened to as much as 10%, closing at $154.60—more than 23% below its post-IPO peak.Below, we will analyze the recent structural characteristics and key levels of these two stocks from a technical perspective.

Micron Technology (MU)

From a trend structure perspective, Micron Technology is currentlymaintaining its medium-term uptrend and has entered a phase of short-term accelerated gains.

In terms of price patterns, on June 9, a large bearish candle opened at $988 and closed at $935, with a lower shadow extending down to $854. On June 10, a small bearish candle narrowed its body to close at $891, indicating weakening selling pressure. On June 11, a strong bullish candle closed at $995, fully recovering the prior two days’ losses; this confirmed a bullish reversal signal in the low-price zone, corroborated by the subsequent rally.

The large bearish candle on June 16 (opening at $1,099 and closing at $1,020) penetrated deeply into the body of the bullish candle from June 15,forming a structure resembling a bearish engulfing pattern, signaling a potential warning.However, prices quickly recovered starting June 17, indicating limited interference of this pattern with the medium-term trend.The past two trading sessions (June 18 and June 22) have continued a strong bullish momentum:On June 18, the price opened at USD 1,108 and closed at USD 1,134; on June 22, it opened at USD 1,196 and closed at USD 1,211, reaching an intraday high of USD 1,213.56 before pulling back slightly. The upper shadow is extremely short, the lower shadow is approximately 27 points, and the candle body remains in the upper range—signs of strength at elevated levels persist. However, the price faced some intraday pressure,Attention should be paid to whether the price can effectively break above the June 22 intraday high of USD 1,213.56 in the coming sessions.

Key Technical Indicators Interpretation

Moving Average (MA):The 20-day moving average (MA20) is at USD 988.04, and the 50-day moving average (MA50) is at USD 748.60; the current price is approximately 22.6% above MA20 and about 61.8% above MA50. The moving averages are in a bullish alignment with consistently upward slopes, reflecting strong trend momentum. The widening gap between MA20 and MA50 indicates a healthy moving average configuration.

RSI:The current RSI reading is 69.77, near the upper end of the neutral-to-high range but not yet formally entering overbought territory. The recent sharp price rally has occurred while RSI remains below 70, suggesting robust momentum, though attention is needed on whether surpassing 70 triggers overbought pressure. No clear bullish or bearish divergence has been observed.

MACD:The MACD line (102.14) is above the Signal line (93.91), maintaining a golden cross with strengthening momentum; no significant divergence signals are present.

Bollinger Bands:The current price of USD 1,211.38 trades above the upper Bollinger Band at USD 1,189.74, reflecting significantly elevated recent volatility. Sustained trading above the upper band is a typical sign of a strong uptrend, though mean-reversion pressure remains objectively present.

Technical Comprehensive Analysis

On the support side,The upper Bollinger Band at USD 1,189.74 has transitioned from prior resistance to current dynamic support,serving as the nearest defensive reference level; if broken,Attention then turns to the level of $1,087.99, formed by the strong bullish close on June 15 combined with the upper boundary of the high-volume trading zone; the 20-day moving average (MA20) at $988.04 serves as a more significant trend-support level.It provides a dynamic cushioning effect.

On the resistance side,The intraday high of $1,213.56 reached on June 22 represents the most immediate resistance level. A breakout above this would shift focus toward the psychological round-number range between $1,250 and $1,300 (primarily relevant from a sentiment perspective).

SpaceX (SPCX)

SpaceX has established a short-term downtrend, with a notably significant correction.From the June 16 peak of $225.64, the share price declined from $201.80 to $154.60 over the subsequent six trading sessions, marking a cumulative drop of approximately 23.4%. The closing price has declined consecutively for three days (June 20, 21, and 22).This three-day bearish candlestick pattern is a classic technical signal indicating sustained downward momentum.

A bearish candle formed on June 17, confirming that price level ($213.80) as the recent high and signaling that bulls temporarily lost upward momentum in that zone. On June 22, the stock opened at $176.04, gapping down nearly 9 points from the previous day's close of $185, hit an intraday low of $154, and closed at $154.60.Although prices stabilized slightly toward the close, the stock failed to mount a meaningful rebound overall, and the structure of the downtrend remains well intact.

Bullish and Bearish Signal Interpretation

Bullish signals:

[Support at the June 12 low: USD 149.34]The stock previously found solid support in this zone and rebounded. If it again holds near the current level of USD 154.6, conditions for a technical rebound would be in place.

[Short-term decline has widened]The stock has declined approximately 23.4% over six days, increasing the likelihood of a technical rebound given its short-term oversold condition.

Bearish signals:

[Three consecutive down days]From June 17 to June 22, closing prices hit successive new lows, confirming sustained bearish momentum and a high probability of trend continuation.

[Gap down and sharp decline]The stock opened at USD 200.51 on June 16 and closed at USD 154.6 six days later, reflecting a rapid downtrend with no clear support platform observed, completing a well-defined downward channel structure.

[Lower open on June 22]The opening price of $176.04 was significantly below the previous day's closing price of $185, indicating overnight selling pressure.

Technical Comprehensive Analysis

Near-term focusFirst support at $154 (intraday low on June 22),a decisive break below this level warrants attention to accelerated downside risk;secondary support is seen around $149.34.

Resistance lies in the $176.52–$176.75 range (a resistance zone formed by the June 22 and June 12 highs),whether the rebound can reclaim this zone is key to the near-term structure;If the breakout holds, attention could turn to the possibility of the trend extending toward the $190 range.

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