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MICROCHIP TECHNLGYMICROCHIP TECHNLGYMICROCHIP TECHNLGY

MICROCHIP TECHNLGY

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MCP trade ideas

Cup and Handle RectagleThe handle has morphed in to a rectangle Much like A<MD did Volume is flat which is characteristic of a rectangle/look for an increase in volume otheriwise it may bump up and down in the rectangle Maybe a swing trade, or maybe not..depends on what youl like I am personally not a fan of trading inside of rectangles. But we are all different. I do not think this stock will bottom out. But who knows? A break out or an increase in volume is needed desperately when trading inside a rectangle, mid rectangle is your stop either way/up or down/if going by the pattern That would be awfully close to entry if going long Not a recommendation/I still own this but at this point, I am leery to buy more right now But tomorrow is another day Nice gain today though! HL= Handle low which is often an important source of support
NASDAQ:MCHPLong
by lauralea
Cup and Handle RectagleMCHP has stalled and looks to be in a rectangle. I have been noticing it goes up then back down like it is struggling. Top of rectangle is The possible market rotation has been tough for any type of tech stocks it seems Mid rectangle can be a stop if it breaks up or down from rectangle I am hoping MCHP will regain momentum but for now, it is not looking too peppy. If you look at the weekly chart, you can see the rectangle easily A Rectangle is a continuation pattern that forms as a trading range during a pause in the trend. Rectangles are sometimes referred to as trading ranges, consolidation zones or congestion areas. To qualify as a continuation pattern, a prior trend should exist. Bottom trendline of rectangle is 97.5 Not a recommendation
NASDAQ:MCHP
by lauralea
Cup and Handle Ascending TriangleHandle low is 96.45 So close and yet so far! MCHP is trying to reach through some hard R. I am wondering if a pull back is coming at this point. Monthly candle is a hammer as is weekly I have hung in there for monthes on this one waiting on it to break out! B/O 112.5 but since it hit 113.28 and did not break out..a bit of a set back I would say B/O is now over 13.28...say 13.35 to be sure. MCHP was in a small rising wedge but looks to have fallen out and recovered. Short interest is a bit over 7%...Bummer..I do not like them.lol And they are not always right..but I do acknowldge their opinion. I am wondering what they see that I do not?? Perhaps the R? MCHP has been trying hard to break out. A few times I thought about selling as it has been a bit prolonged to say the least The chart is very bullish..I am planning to hang. Not a recommendation
NASDAQ:MCHPLong
by lauralea
MCHP - 16.08% Potential Profit - Corridor BreakoutCorridor Breakout out of a 3-month price correction. Moderate possibility to hit the uptrend resistance line. Target price set at resistance line bounce. - 3-Month Uptrend before correction - RSI and STOCH well above 50 - MACD well above Signal Suggested Entry $110.44 Suggested Stop Loss $106.77 Target price $128.15 Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss.
NASDAQ:MCHPLong
by maschera