MCHP trade ideas
Trade setup in MCHPEntry level $ 95.40 with target price to trend line at $100.
Stop loss $94.00
breakout level alert set for $101
MCHP - DAILY CHARTHi, today we are going to talk about MCHP
We observe a D1, some important points. The details are highlighted above.
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$MCHP Strong Buy upgrade for Microchip TechnologyPossible entry level $98 = Target price $105 @ Fib extension.
High short interest of 13% coming into earnings.
Upgrades pre earnings may be a sign of analysts not wanting to get caught offside, expecting good things.
Technically the stock has been and looks set to continue in a bullish uptrend. A breakout is on the cards if earnings are good.
RSI and price are reaching decision time.
Upgrade details oct30th
Microchip (MCHP +0.8%) is raised from Market Perform to Strong Buy at Raymond James with a $115 target.
The firm cites its "increasingly constructive view" on the semi market with checks and peer reports from the likes of Texas Instruments showing that current conditions are getting neither better than worse, which is a positive after a downturn.Raymond James says current revenue run rates are allowing the inventory backup to drain from the channel. Source seeking alpha.
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.
Apple may help Microchip Technology get through the $100 barrierAverage analysts price target $105.16
Yield 1.6%
P/E ratio 62
Short Interest 14.34%
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
$MCHP resolutionA bit range bound narrowing for 6 months. Will declare itself soon. #breakoutwatch $MCHP
Trade a short squeeze into earrings with Microchip Tech.Contrarian is sometimes best, we look for something that everyone hates and have low expectations on, MCHP certainly fits that rationale, which is confirmed by the high short interest. AS earnings approach we see a good risk reward trade with a tight stop loss, anything positive after hours could lead to a nice short squeeze.
AVERAGE ANALYSTS PRICE TARGET $106
AVERAGE ANALYSTS RECOMMENDATION OVERWEIGHT
P/E RATIO 58
SHORT INTEREST 15 %
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.
MCHP SnapbackMCHP is one of the very many within the semi-conductor industry that has been hit the hardest. It is extremely over extended to the downside and oversold. It is beyond the bollinger bands as well. It has just formed a bullish harmani with the 200sma sneaking up under it. I'm aiming for a 6.5% snapback to $90, then taking profits. Setting my stop at around 81.5. So this trade will have 2:1 risk/reward.
***nice long setup***buy above yesterday's low 89.42
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Please note that this information is not a recommendation to buy or sell. It is to be used for educational purposes only.
Possible Elliott wave formation of microchip stock.Microchip stock has been in downtrend lately after testing yearly high of 100$ multiple times, this downtrend have followed Elliott impulse waves nicely , now it should follow upward waves , if will test both 80$ and 90 $ resistance during this. Let me know what do you think.
MCHP: Semiconductor Stock Topped, Now Look for Strong SupportMicrochip Technologies stock, in the Semiconductor Industry, has a top that completed in early September, seen best on the weekly chart. This is a common top right now. I see it in many topping stocks. The trading range breaks to the downside, usually on company news. The question now is WHERE will it find sufficient support to commence a bottom? The answer lies within the technical and fundamental support levels. The stock is in a bounce to rebound price action over the past couple of weeks. This is not at a strong support level. The support for MCHP stock for a final low is the highs of 2016. This also coincides nicely with the typical bottoming location based on the percentage of loss from the all-time high. About a 50% loss is where many stocks are currently finding support and where some Dark Pool Buy Zones are beginning. These Buy Zones are at the earliest of stages and are not fully developed yet. This provides 2 important analyses for trading decisions:
1. Where you need to cease selling short entirely.
2. Where you need to start watching for a bottoming Dark Pool Buy Zone formation.
When you learn to do this type of analysis during a bear market, particularly a trading range bear, then you will be far ahead of the crowd.
Keep in mind that many stocks WILL dig deeply into the highs of the 2016 support levels. The highs are just where you need to stop selling short. It is not necessarily the final, final destination of the stock price before a bottom commences.
MCHP looking very BullishBullish pennant, tk cross, and kumo twist. RSI is looking ready for an uptrend as well. price has confirmed uptrend by passing cloud. Buy some shares and watch it closely on larger time frames to ensure its good to hold
[MCHP] phase 4 -> Don't buyIf you're thinking in long-term, you will not buy. The price is below 30MM, and yet, we can't see strong support. RSI is low too.
MCHP - needs to break 89 If we can get below 89 this will go to the 100MA on the weekly chart. That is the nearest support
MCHP Break over 100 should be purchasedTechnicals
Positive on all time frames
Has broken out above historical high
Has broken and closed above psychological $100 level
This was done in mild volume, so volume confirmation would be welcome
Trade setup
Buy the breakout in half size
Stop loss at 92 and 88
Target 110
Expected timeline for this trade 7 weeks
Please mind macro numbers (CPI today) and only trade in the direction of the market.
MCHP30th Jan. ABCD Reversal Pattern. Price failed at 97 level. Stoch on Weekly rolling over. Picked up Feb 16 95 Puts for a short reversal...
"Are Bears Ready To Take Microchip Technology Down?" - PossiblyMicrochip Technology Inc. (NASDAQ: MCHP) is at a Critical Make-Or-Break Point right now which is around 92 Zone . If it continues to lose momentum and manage to close decisively below this zone on 1 Hour Basis, then we may see a good Down Side as per TTC Breakout Formation .
For Short-term targets, Trader should eye on 90.70 Zone . Then 89.30 is the next support. For Swing Traders, 85.50 Zone is Very Critical. Below which we can see a good amount of selling.
Microchip Technology is an American manufacturer of microcontroller, memory and analog semiconductors. Among its chief competitors are Analog Devices, Infineon, Maxim Integrated Products, NXP Semiconductors (previously Philips and purchased Freescale), Renesas Electronics, STMicroelectronics, and Texas Instruments.
