The Hourly View for MCHP
At the moment, MCHP (Get Ratings)’s price is up $0.86 (0.6%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as MCHP has now gone up 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Of note is that the 20 hour changed directions on MCHP; it is now pointing up. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
MCHP ranks 11th in terms of today’s price percentage change out of Electronic Equipment stocks.
MCHP’s Technical Outlook on the Daily Chart
Currently, MCHP’s price is up $2.17 (1.54%) from the day prior. This move is a reversal from the day prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. Microchip Technology Inc’s price action over the past 90 days can be seen via the chart below.
MCHP: Daily RSI Analysis
MCHP: Daily RSI Analysis
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