The AI trade has been the engine for incredible returns on major stocks like Nvida with their GPUs. But the memory (RAM chips) might be the next big move upwards. The GPUs powering the AI language models will need mega amounts of memory to work.

Micron has corrected nearly 62% from the high and has support above 800. Entered a long-term trade here.

The Elliott Wave count depends on how bullish you are. This could be the final move to finish around $1500 or could this be start of a larger strong wave 3 which you don't want to miss (I've missed many.

Reasons for the trade:

Support and resistance trade levels
Support on 800
Volume
High volume, COT data increasing longs
Elliott Wave
Count looks very impulsive


Weekly chart with COT and volume

Daily chart
with volume range prices