Micron (MU) - Get Report began Thursday's session with a huge earnings-inspired breakout gap. The stock has remained extremely well bid since the opening bell and is stabilizing late in the day with a 13% gain. This impressive ramp-up -- Micron's best upside trade in more than a year -- is by far the best performance in the S&P 500 on Thursday.

In the near term, Micron's post-earnings surge may have a difficult time maintaining this momentum. A very heavy resistance zone, which is marked by a huge earnings-inspired breakdown gap back in June of last year, is about to come into play.

Considering the extent of Micron's post-election move, which is now stretched to more than 35%, a pullback from this area may be needed before the current rally phase can continue.

As December began, Micron was continuing to fade after a 10-day post-election winning streak. The stock fell back to a very solid support zone during this shallow pullback phase. After a couple of days of churn, shares were entering a new rally phase. The stock made a new high near $21 during the rally, a level that should now be considered a key support zone.

A pullback all the way down to this area may be too much to ask, but a healthy consolidation pattern appears likely before $24 is cleared. Adding to Micron longs before this plays out may prove to be frustrating.

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This article is commentary by an independent contributor. At the time of publication, the author was long MU.