The Greedy Trader Weekly Analysis
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Archive
- 9/7/2018
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Microchip Technology
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Summary:
Weekly :Broken trend resistance lineWilliams' Percentage Range is oversold
Daily :The price has fallen below the Parabolic SARThe price touches the lower Bollinger Band
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It was the negative week for the Microchip Technology (MCHP). During the week, the MCHP dropped -2.98 points, or -3.46%, and closed at 83.05 on Friday, September 07, 2018. Weekly volume was 22% above average.

Long-term trend: [See MCHP long-term trend chart]
A long-term uptrend had started on January 22, 2009 at 16.23 and reached 104.20 on June 8, 2018. MCHP gained -87.97 points, or -542.02%, in 489 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (45.91) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 resistance line in a long-term trend.

Medium-term trend: [See MCHP medium-term trend chart]
A medium-term downtrend had started on June 8, 2018 at 104.20 and reached 79.76 on August 17, 2018. MCHP lost 24.44 points, or 23.45%, in 10 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 75.76 and resistance is at 95.50. 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 medium-term trend.

Weekly Technical Indicators: [See MCHP weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.

The weekly MACD line is below its signal line since July 6, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term downtrend is strong. Use the following link to access a MACD help.

Short-term trend: [See MCHP short-term trend chart]
A short-term uptrend had started on August 17, 2018 at 79.76 and reached 89.00 on August 28, 2018. MCHP gained -9.24 points, or -11.58%, in 11 days. The price is now at the 64.39% retracement level.

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

The daily MACD line is above its signal line since August 24, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

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.

The price touches the lower Bollinger Band. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 50.16
Williams' Percentage Range (W%R) 62.00
Lane's Stochastic (%D-Slow) 26.23
Greed/Fear Indicator (GFI) 38.12
Moving Average Converg./Diverg. (MACD) -1.89
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 25.58
Williams' Percentage Range (W%R) 84.30
Oversold
Lane's Stochastic (%D-Slow) 28.88
Greed/Fear Indicator (GFI) 27.05
Moving Average Converg./Diverg. (MACD) 0.56
Trading Signals
Description Value Chart
Monthly Trendline Resistance 95.50
Upper Bollinger Band 90.48
50 Day Moving Average 90.47
Parabolic System 88.96
20 Day Moving Average 85.18
Weekly Stochastic Crossing 84.11
Daily Stochastic Crossing 83.91
Price 83.05
Lower Bollinger Band 82.96
Monthly Trendline Support 75.76
Sector and Industry
Description Name Rank
Sector Technology 5
Industry Semiconductor-Specialized 63
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 89.00
High Date 08/28/2018
Low 82.61
Low Date 09/06/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 79.76
Low Date 08/17/2018
High 89.00
High Date 08/28/2018
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 95.50
Support 75.76
High 104.20
High Date 06/08/2018
Low 79.76
Low Date 08/17/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 37.77
Low Date 08/24/2015
High 104.20
High Date 06/08/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 64.49
Support 45.91
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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