Taking everything into account, MCHP scores 7 out of 10 in our technical rating. MCHP has been a medium performer in the overall market. Some doubts are observed in the medium time frame, but recent action was very positive.
Although MCHP has an excellent technical rating, the quality of the presented setup is not ideal at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
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50.51
When analyzing the support we can see 3 important areas.
- A support zone ranging from 63.59 to 64.91. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @53.12 from a trend line in the weekly time frame.
- Support @51.02 from a trend line in the daily time frame.
3 important resistance areas can be observed.
- A resistance zone ranging from 65.79 to 65.93. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 67.52 to 69.14. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Resistance @74.78 from a horizontal line in the weekly 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 | UP | POSITIVE | The short term trend for MCHP is up. |
| ChartMill Relative Strength | 61.6 | NEUTRAL | MCHP is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MCHP is above 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) | 58.47 | NEUTRAL | The RSI value for MCHP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.04 | NEGATIVE | The MACD value suggests MCHP has a negative trend. |
| Stochastics (14,3) | 44.58 | NEUTRAL | The Stochastics value for MCHP is a neutral value. |
| Average True Range in percent/ATR (20) | 3.57 | MEDIUM VOLATILITY | The ATR as a percentage value for MCHP suggests some volalility. |
| Average Directional Index/ADX (14) | 33.63 | POSITIVE | The high ADX value value for MCHP suggests a strong trend. |
65.36
+0.01 (+0.02%)
MICROCHIP TECHNOLOGY INC / MCHP FAQ
What is the technical rating for MCHP stock?
ChartMill assigns a technical rating of 7 / 10 to MCHP.
What is the current trend direction of MICROCHIP TECHNOLOGY INC (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 58.4652. This indicates that the stock is currently neutral.
What is the MACD signal for MCHP stock?
The MACD indicator for MICROCHIP TECHNOLOGY INC (MCHP) has a value of -0.037654, indicating a bearish trend.
What is the short term momentum for MICROCHIP TECHNOLOGY INC (MCHP) stock?
The short term momentum for MICROCHIP TECHNOLOGY INC (MCHP) is positive.