MCHP trade ideas
"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.
$mchp breakout lookout higher time frame showing change in market structure after pulling back and in defined uptrend
mid time frame shows rising moving average and positive market structure change forming a base before possible breakout
lower time frame is in alignment with higher time frames with positive momentum and volume
first target is resistance of 83.0x area and next level to 84.0x area
MCHP: Delayed Post of InvestmentPosting this investment I made in MCHP before I clear off the chart......holding on and hoping the company continues its success.
Microchip Technology ($MCHP) Earnings Beat?Thinking about buying this stock because of its earnings coming up aftermarket tomorrow. The last three quarters they have killed their earnings with a short term 7% gain which is what I would be looking for with this trade. Not quite sure about how well things will go because of AMD's earnings but with a few big players going tomorrow in the semiconductor industry, it makes for an interesting afternoon tomorrow. Any response would be appreciated :D (First chart on here sorry for the shitty arrows)
MCHP - Easy ShortSimple Harmonic identified.
Short MCHP at the Open. - 62.59
Target - 60.09
Stop - 63.84
Risk:Reward 1:2
1 of the best in tech stocks but could face strong wallUp 24% from Feb low after a new lower low but the breakout above Feb high is encouraging and looks strong but facing the descending resistance line now close above it will suggest a possible 52wkh next few weeks. If it fails to push higher it qualifies buy in the dips as long as price stays above Feb high at and around $44. Trade less and save more!
