The Greedy Trader Weekly Analysis
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Archive
- 6/8/2018
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Microchip Technology
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Summary:
Weekly :Overbought sectorBroken uptrend resistance line - uptrend exhaustionBroken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range is overbought
Daily :Relative Strength Index is overboughtLane's Stochastic is strongly overboughtStochastic has declined below the signal lineRelative Strength Index, Lane's Stochastic and MACD bearish divergenceThe price has risen above the Parabolic SAR
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It was a third consecutive positive week for the Microchip Technology (MCHP). During the week, the MCHP gained 1.10 points, or 1.09%, and closed at 102.15 on Friday, June 08, 2018. MCHP was trading at average weekly trading volume.

MCHP is a member of Technology Sector. Technology is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

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 (45.14) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 uptrend had started on August 24, 2015 at 37.77 and reached 104.20 on June 8, 2018. MCHP gained -66.43 points, or -175.88%, in 145 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (91.59) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 medium-term trend.

Weekly Technical Indicators: [See MCHP weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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 above its signal line since May 25, 2018. This is an indication that the medium-term trend is up. 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 May 18, 2018 at 91.94 and reached 104.20 on June 8, 2018. MCHP gained -12.26 points, or -13.33%, in 21 days. The price is now at the 16.72% retracement level.

Daily Technical Indicators: [See MCHP daily technical indicators chart]
Daily Relative Strength Index is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index or strongly overbought daily Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Daily Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index, Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following links to access Lane's Stochastic and Relative Strength Index help.

The daily MACD line is above its signal line since May 1, 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 risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 84.40
Overbought Bearish
Williams' Percentage Range (W%R) 23.10
Lane's Stochastic (%D-Slow) 91.05
Strong Overbought Bearish
Greed/Fear Indicator (GFI) 84.12
Overbought
Moving Average Converg./Diverg. (MACD) 2.73 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 62.96
Williams' Percentage Range (W%R) 10.90
Overbought
Lane's Stochastic (%D-Slow) 71.69
Greed/Fear Indicator (GFI) 71.32
Moving Average Converg./Diverg. (MACD) 1.03
Trading Signals
Description Value Chart
Upper Bollinger Band 104.48
Daily Stochastic Crossing 103.28
Price 102.15
Parabolic System 100.08
Weekly Stochastic Crossing 99.24
Quarterly Trendline Resistance 99.09
20 Day Moving Average 96.74
Quarterly Trendline Support 91.59
50 Day Moving Average 91.07
Lower Bollinger Band 89.64
Sector and Industry
Description Name Rank
Sector Technology 9
Industry Semiconductor-Specialized 86
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 91.94
Low Date 05/18/2018
High 104.20
High Date 06/08/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 91.94
Low Date 05/18/2018
High 104.20
High Date 06/08/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 81.28
Low Date 04/24/2018
High 104.20
High Date 06/08/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 99.09
Support 91.59
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 63.72
Support 45.14
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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