MICROCHIP TECHNOLOGY INC (MCHP) Stock Technical Analysis
NASDAQ:MCHP • US5950171042
Overall MCHP gets a technical rating of 8 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, MCHP is showing a nice and steady performance.
- The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!
- MCHP is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so MCHP is lagging the market slightly.
- MCHP has an average volume of 8971610 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- When comparing the yearly performance of all stocks, we notice that MCHP is one of the better performing stocks in the market, outperforming 88% of all stocks. However, this overall good ranking is mostly due to the recent strong move.
- MCHP is an average performer in the Semiconductors & Semiconductor Equipment industry, it outperforms 53% of 114 stocks in the same industry.
- In the last month MCHP has a been trading in the 73.38 - 83.35 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
MCHP has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 75.08, a Stop Loss order could be placed below this zone.
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56.56
3 important support areas can be observed.
- A support zone ranging from 74.41 to 75.08. This zone is formed by a combination of multiple trend lines in the daily time frame.
- A support zone ranging from 72.46 to 73.17. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @57.13 from a trend line in the weekly time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 76.59 to 78.56. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 80.28 to 80.75. This zone is formed by a combination of multiple trend lines in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for MCHP is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for MCHP is neutral. |
| ChartMill Relative Strength | 88.46 | POSITIVE | MCHP has a high relative strength, it outperformed 88.46% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of MCHP is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MCHP is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of MCHP is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 51.5 | NEUTRAL | The RSI value for MCHP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.48 | NEGATIVE | The MACD value suggests MCHP has a negative trend. |
| Stochastics (14,3) | 37.93 | NEUTRAL | The Stochastics value for MCHP is a neutral value. |
| Average True Range in percent/ATR (20) | 4.47 | MEDIUM VOLATILITY | The ATR as a percentage value for MCHP suggests some volalility. |
| Average Directional Index/ADX (14) | 30.25 | POSITIVE | The high ADX value value for MCHP suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 78.57 | 74.40 | 4.17 (5.31%) | 18.84% |
| An entry @78.57. This is a Buy Stop order right above the resistance zone. | An exit @74.40. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 4.17 points, which is 5.31%. | When investing 18.84% of your capital in this trade, your total portfolio risk will be 1.00%. |
- The distance between exit and entry is rather small compared to the average daily movement of MCHP. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
75.93
-0.67 (-0.87%)
MICROCHIP TECHNOLOGY INC / MCHP FAQ
Can you provide the ChartMill technical rating for MICROCHIP TECHNOLOGY INC?
ChartMill assigns a technical rating of 8 / 10 to MCHP.
What is the trend direction for MCHP stock?
The current trend direction for MICROCHIP TECHNOLOGY INC (MCHP) is Bullish.
Can you provide the RSI signal for MICROCHIP TECHNOLOGY INC?
MICROCHIP TECHNOLOGY INC (MCHP) has an RSI value of 51.4976. This indicates that the stock is currently neutral.
Can you provide the support and resistance levels for MICROCHIP TECHNOLOGY INC?
MICROCHIP TECHNOLOGY INC (MCHP) has a support level at 75.08 and a resistance level at 77.58. Check the full technical report for our detailed analysis of MCHP support and resistance levels.