Simple Harmonic identified. Short MCHP at the Open. - 62.59 Target - 60.09 Stop - 63.84 Risk:Reward 1:2
Up 24% from Feb low after a new lower low but the breakout above Feb high is encouraging and looks strong but facing the descending resistance line now close above it will suggest a possible 52wkh next few weeks. If it fails to push higher it qualifies buy in the dips as long as price stays above Feb high at and around $44. Trade less and save more!
CHART OF THE DAY at 1-20-2016 BUY $MCHP at $41.71
I'd put on watch until > 35.11