Ansem Says Micron's 34% Weekly Selloff Appeared Excessive

Crypto trader Ansem said Micron and some AI-linked stocks may be nearing a short-term rebound after Micron lost about 34% in a week, while warning that a longer consolidation could follow.

Ansem said Micron's selling appeared excessive and that the stocks may rise next week.

After a possible rebound, the stocks may enter a longer period of consolidation, Ansem said. He expects the bottoming process to be slower and less volatile than the rapid selloff.