The Greedy Trader Weekly Analysis
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Archive
- 12/7/2018
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Microchip Technology
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Summary:
Weekly :Broken trend support line
Daily :Daily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARPrice has crossed below the 50 Day Moving AverageThe price has declined below the moving average in the center of the Bollinger Bands
Move cursor over the icon to see details.

It was the negative week for the Microchip Technology (MCHP). During the week, the MCHP dropped -4.74 points, or -6.32%, and closed at 70.26 on Friday, December 07, 2018. It was the worst weekly loss since October 5, 2018. Weekly volume was 16% above average.

Long-term trend: [See MCHP long-term trend chart]
A long-term downtrend had started on June 8, 2018 at 104.20 and reached 60.70 on October 26, 2018. MCHP lost 43.50 points, or 41.75%, in 20 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 50.97 and resistance is at 86.79. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.

Medium-term trend: [See MCHP medium-term trend chart]
A medium-term uptrend had started on October 26, 2018 at 60.70 and reached 80.61 on December 3, 2018. MCHP gained -19.91 points, or -32.80%, in 5 weeks. The chart has formed a Descending Triangle chart pattern. The uptrend support line (75.08) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.

Weekly Technical Indicators: [See MCHP weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since July 6, 2018. 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 downtrend had started on December 3, 2018 at 80.61 and reached 69.95 on December 7, 2018. MCHP lost 10.66 points, or 13.22%, in 4 days. Price is near the trend low.

Daily Technical Indicators: [See MCHP daily technical indicators chart]
Daily technical indicators are neutral.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. 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 crossed below the 50 Day Moving Average. Such crossover is considered a bearish 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 38.50
Williams' Percentage Range (W%R) 70.60
Lane's Stochastic (%D-Slow) 38.54
Greed/Fear Indicator (GFI) 35.49
Moving Average Converg./Diverg. (MACD) 1.02
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 32.36
Williams' Percentage Range (W%R) 67.80
Lane's Stochastic (%D-Slow) 55.13
Greed/Fear Indicator (GFI) 43.18
Moving Average Converg./Diverg. (MACD) -4.97
Trading Signals
Description Value Chart
Parabolic System 80.26
Upper Bollinger Band 77.12
Monthly Trendline Resistance 76.50
Monthly Trendline Support 75.08
20 Day Moving Average 73.75
Daily Stochastic Crossing 73.16
Weekly Stochastic Crossing 72.62
50 Day Moving Average 70.89
Price 70.26
Lower Bollinger Band 69.21
Sector and Industry
Description Name Rank
Sector Technology 4
Industry Semiconductor-Specialized 99
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 80.61
High Date 12/03/2018
Low 69.95
Low Date 12/07/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 80.61
High Date 12/03/2018
Low 69.95
Low Date 12/07/2018
Description Value
Direction Up
Chart Pattern Descending Triangle
Status Broken Support
Resistance 76.50
Support 75.08
Low 60.70
Low Date 10/26/2018
High 80.61
High Date 12/03/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 86.79
Support 50.97
High 104.20
High Date 06/08/2018
Low 60.70
Low Date 10/26/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 16.23
Low Date 01/22/2009
High 104.20
High Date 06/08/2018
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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