A clear opportunity for a short position here with all my indicators pointing as such. TP: 138 At TP I will look to take a long positon.
MCHP looks strong enough now to get over the downward trendline. Bought some at 151.33.
Potential triangle of A, B(triangle), C. Then should see a move to the 200 level.
MCHP respecting trend lines, bullish at the moment
MCHP has been filling out a pennant since late January. Recently it gapped down below the lower trendline but held the 200 MA nicely and has since rallied back above. Looking for an upswing to the top trendline and a possible breakout. TRADE IDEAS: CALLS: Entry: Break and hold above 148 and 10 MA. Contract: MCHP 7/23 148c PT: 153.50, red trendline Breakout PT...
Who is gonna win this battle: cup and handle or rising wedge ? MCHP made a nice “buy the dip” on Tuesday creating a “cup and handle” pattern that combined with the ABCD pattern gives a forecast for a possible target price at point (D). If that happens, MCHP will break the resistance line and go into a new trend which it will then surely test again. Of course...
The PEAD projected a bullish outlook for $MHCP after a positive under reaction following its earnings release placing the stock in drift A If you would like to see the Drift for another stock please message us. Also click on the Like Button if this was useful and follow us or join us.
I think MCHP will try to challenge recent highs next week, target 143-145
Range Trading With Upside Potential Move Please don't forget to FOLLOW , LIKE and COMMENT ... If you like my analysis:) Thank you and Good Luck! Primary analysis after new developments:
The handle has morphed in to a rectangle Much like A<MD did Volume is flat which is characteristic of a rectangle/look for an increase in volume otheriwise it may bump up and down in the rectangle Maybe a swing trade, or maybe not..depends on what youl like I am personally not a fan of trading inside of rectangles. But we are all different. I do not think this...
MCHP has stalled and looks to be in a rectangle. I have been noticing it goes up then back down like it is struggling. Top of rectangle is The possible market rotation has been tough for any type of tech stocks it seems Mid rectangle can be a stop if it breaks up or down from rectangle I am hoping MCHP will regain momentum but for now, it is not looking too...
Range Trading With Upside Potential Move Thank you and Good Luck!
MCHP: Contracting Triangle TP 1 = 117.91 TP 2 = 123.80 TP 3 = 134.95 Thank you and Good Luck!
Beautiful breakout - It's a nice long set up. As all the indexes are likely to head higher most stocks will benefit especially tech stocks. There is a high reward ahead it seems on this one. This is just an opinion. Please do your own homework before investing.