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Advanced TA SearchArchive
- 4/26/2024 -
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Microchip Technology (MCHP) Technical Analysis
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| Summary:
| | | Weekly : | | Daily : 
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| | It was a first positive week after 3 consecutive negative weeks for the Microchip Technology (MCHP). During the week, the MCHP gained 11.92 points, or 14.59%, and closed at 93.60 on Friday, April 26, 2024. Weekly volume was 15% above average.
 Long-term trend: [See MCHP long-term trend chart]
A long-term uptrend had started on July 5, 2022 at 54.33 and reached 94.63 on April 26, 2024. MCHP gained -40.30 points, or -74.18%, in 94 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 73.95 and resistance is at 109.57. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
 Medium-term trend: [See MCHP medium-term trend chart]
A medium-term uptrend had started on November 1, 2023 at 68.75 and reached 94.63 on April 26, 2024. MCHP gained -25.88 points, or -37.64%, in 25 weeks. Price is near the trend high.
 Weekly Technical Indicators: [See MCHP weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since April 12, 2024. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.
Short-term trend: [See MCHP short-term trend chart]
A short-term uptrend had started on April 19, 2024 at 80.90 and reached 94.63 on April 26, 2024. MCHP gained -13.73 points, or -16.97%, in 7 days. The price is now at the 7.50% retracement level.
Daily Technical Indicators: [See MCHP daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
The price touches the upper Bollinger Band. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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