MCHP – 30-Min Long Trade Setup!📈
🔹 Ticker: MCHP (NASDAQ)
🔹 Setup: Falling Wedge Breakout + Oversold Bounce
🔸 Breakout Zone: ~$40.74 (yellow zone breakout)
📊 Trade Plan (Long Position)
✅ Entry Zone: $40.60–$40.80
✅ Stop Loss (SL): Below $39.08 (white key level)
✅ Take Profit Targets:
📌 TP1: $43.27 (red zone – resistance shelf)
📌 TP2: $46.10 (green zone – gap-fill target)
📐 Risk-Reward Breakdown
📉 Risk:
$40.74 - $39.08 = $1.66
📈 Reward to TP1:
$43.27 - $40.74 = $2.53 → 1.52:1 R/R
📈 Reward to TP2:
$46.10 - $40.74 = $5.36 → 3.22:1 R/R
🔍 Technical Highlights
Oversold bounce with bullish reversal candle
Falling wedge breakout forming
Yellow zone reclaim signals strength
Heavy sell-off likely overextended = high bounce potential
⚙️ Trade Management
🔄 After TP1:
– Move SL to breakeven
– Book partial gains
📈 Let rest run to TP2 with trailing stop under rising support
⚠️ Invalidation Triggers
❌ Break and close below $39.08
❌ Rejection with heavy volume at yellow zone
❌ Bearish engulfing back into wedge range
