MCHP: Bulls Are In Complete Price Control And The Next Stop is..MCHP: Contracting Triangle
TP 1 = 117.91
TP 2 = 123.80
TP 3 = 134.95
Thank you and Good Luck!
MCHP trade ideas
MCHP Long set up/increasing volumeBeautiful breakout - It's a nice long set up. As all the indexes are likely to head higher most stocks will benefit especially tech stocks. There is a high reward ahead it seems on this one. This is just an opinion. Please do your own homework before investing.
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
Cup and Handle Ascending TriangleSo close and yet so far!
I have hung in there for monthes on this one waiting on it to break out!
It has been trying. A few times I thought it was a goner
The chart is very bullish..I am planning to hang. Short interest is increasing..Bummer..I do not like them.lol
Not a recommendation
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.
MICROCHIP TECHNOLOGY Plan Hey investors, MICROCHIP TECHNOLOGY is in a fake bearish movement large volume of sales and similarly the session before, it leaves to make a reversal on its last previous low point. It wants to try to go to strong trend support level with great possibility of rising in the consolidation zone to breakout eventually and join its new zone. We go to the next high and even arrive at the last high point.
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Ascending Triangle C&HMCHP has recovered after an earnings beat that sent the stock down anyway. Go figure?
Closing in on possible Break out of cup and handle pattern.
Has barely penetrated upper trend line of A Triangle
Not a recommendation
We can't always just focus on our next shot. It is often a good idea to look at the whole table and play defense and set up for your next shot.
Cup and HandleMCHP has fallen from it's rising wedge and seems to be recovering
Earnings are tomorrow AMC
I guess break out depends on earnings
I own this but I do not recommend it
The risk on MCHP......I posted a bullish chart on MCHP last week, but wanted to follow-up with the downside risk. If market weakens then i think it could drop to ~$90 range which was support in 2019... would setup a nice inverse H&S pattern with a target of close to $160
Cup and Handle Ascending TriangleEarnings 8-4
MCHP is falling from a very small rising wedge so I am hoping it does not fall too much more
Stop below handle low
I own this stock but I do not recommend it
Running flat?MCHP hit the 50 day moving average today and the 1 hour 5 RSI was deeply oversold at the close. Might be a good spot to stab at it for a trade higher. Downside likely the June low at around $97
MCHPAs you can see price tried to form a false breakout of an important resistance level at 108 USD/Share. That’s why now we are looking at how price will be acting: if there is going to be an impulsive breakout, you can go long for this stock after a fractal formation. And the first target will be around 113.
MCHPMicrochip Technology (MCHP): The price is currently testing the level 108 USD/Share. My idea is that If the price will form a breakout than a pullback – after fractal you can go long and the target will be at 114 USD/Share. Notice that the price is going directly with the trend line.
Cup and Handle?I see a cup and handle/Hypothetical Break out at 112.5
Target 1: 135 to 145
Target 2: 182 to 200
My stop is at 92
Vision without action is a dream
Action without vision is a nightmare..so do your research,,,I find I do better when I trade stocks I like verses what everyone else likes (o:
MCHP: Cup/HandleEntry: 113 (Again I was not patient and I am in) Wish me luck!
Stop: 93
Target 1:136 to 150
Target 2: 188 to 209
MCHP inside High Time Frame Turning ZoneLooking for a re-entry in the 60 min level with nice profit potential
$MCHP Microchip Technology to challenge All Time Highs
The stock jumped in afterhours after the company reissued guidance-=
Source SeekingAlpha
Microchip (NASDAQ:MCHP) +6% now expects FQ1 consolidated net sales in the range of $1.247B to $1.326B from the prior $1.194B to $1.3B.
Non-GAAP EPS in the range of $1.35 to $1.53 (prior: $1.25 to $1.45).
Steve Sanghi, CEO: “With two months of the quarter behind us, our business is performing better than we expected during our May 7, 2020 earnings conference call. COVID-19 related supply chain disruptions which were primarily in Malaysia and Philippines have eased. We have begun to make up for lost production and expect to continue to gain ground through the end of this quarter.”
$MCHP $90 target
As with the majority of Chip\semi stocks sentiment and price action is bullish.
Lets have a look at the charts for a insight pre earnings
Average analysts rating $101.80 \ Buy
Short interest 13%
33 p/e ratio
Company Profile
Microchip Technology, Inc. engages in the provision of semiconductor products. It operates through the Semiconductor Products and Technology Licensing segments. The Semiconductor Products segment involves in the designing, developing, manufacturing, and marketing microcontrollers, development tools and analog, interface, mixed signal, connectivity devices, and timing products. The Technology Licensing segment offers license fees and royalties associated with technology licenses for the use of SuperFlash embedded flash and Smartbits one time programmable technologies. The company was founded on February 14, 1989 and is headquartered in Chandler, AZ.
Short $MCHP.Shooting star bearish pattern. As well as recent uptrend accompanied by rather sideways (arguably downard) OBV.
Microchip Tech Inc Jumps afterhoursPost market news release
CHANDLER, Ariz., Jan. 06, 2020 (GLOBE NEWSWIRE) -- (NASDAQ:MCHP) – Microchip Technology Incorporated, a leading provider of smart, connected and secure embedded control solutions, today provided an update on the business environment it is experiencing. Microchip has continued to experience strong bookings since October 2019. Microchip now expects consolidated net sales for the December 2019 quarter to be $1.281 billion to $1.288 billion, or down between 3.75% and 4.25% sequentially with a mid-point of down 4%. Microchip previously provided revised guidance on December 3, 2019 for consolidated net sales to be $1.244 billion to $1.298 billion, or down between 3% and 7% sequentially with a mid-point of down 5%.
"We continued to experience strong bookings in December 2019 that resulted in better than expected billings for the December 2019 quarter and improved backlog for the March 2020 quarter" said Steve Sanghi, Microchip's CEO. "The December 2019 quarter book-to-bill ratio was above 1.0 after several quarters of the book-to-bill ratio being below 1.0. The opening backlog for the March 2020 quarter is currently significantly higher than the opening backlog was for the December 2019 quarter. Microchip is seeing strength coming from all major geographies including the U.S., Europe and Asia, as well as several major end markets including data center, industrial and automotive."
"Based on several inflexion points we are seeing in the business, we believe that the December 2019 quarter was the bottom of this cycle for Microchip, barring any negative developments on the U.S./China trade front or unexpected fallout from geopolitical events. We are preparing our factories and subcontractors to be able to deliver better than mid-single digit percentage sequential revenue growth in the March 2020 quarter. We will provide sales and earnings guidance for the March 2020 quarter on February 4, 2020 via our quarterly earnings release and conference call," concluded Mr. Sanghi.
Long MCHP This stock made an all-time high on Friday, and I expect to continue trend higher. Price target is $125.
