This is probably going to last until options expire this month. It's a good intermediate correction. It's still a good stock but considering the run MU has had, especially over the last 2 months, it had to correct, and the 50 dma and the $12 breakout area is a good target. For the longs ... it'll go higher ... after this correction runs its course. For those that want to add ... I'd wait for the 50 dma area. Though I do agree with the $12.50 area as possible support ... just think it won't hold .... but who knows.
I don't doubt it will hold the $12.50 area today. Odds are it is not over (though wish it would be), and, yes, the 50 dma will be higher as time goes on ... both the breakout area and the 50 dma are in the same general range, especially considering intraday moves. It's had a great run and needs a rest ... it'll get back on track. If one wants to be safer, add after the MACD starts turning up and MU is showing some stability. (MACD is now almost pointed straight down.)