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Archive
- 12/13/2024 -
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Microchip Technology (MCHP) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a first positive week for the Microchip Technology (MCHP). During the week, the MCHP gained 0.64 points, or 1.08%, and closed at 59.93 on Friday, December 13, 2024. Weekly volume was 20% above average.
 Long-term trend: [See MCHP long-term trend chart]
A long-term uptrend had started on July 5, 2022 at 54.33 and reached 100.57 on May 24, 2024. MCHP gained -46.24 points, or -85.11%, in 98 weeks. The price is now at the 87.89% retracement level.
 Medium-term trend: [See MCHP medium-term trend chart]
A medium-term downtrend had started on May 24, 2024 at 100.57 and reached 57.96 on December 5, 2024. MCHP lost 42.61 points, or 42.37%, in 27 weeks. Price is near the trend low.
 Weekly Technical Indicators: [See MCHP weekly technical indicators chart]
Weekly Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Lane's Stochastic or strongly oversold 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is below its signal line since June 21, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is relatively 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 downtrend had started on November 25, 2024 at 71.10 and reached 57.96 on December 5, 2024. MCHP lost 13.14 points, or 18.48%, in 10 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 47.59 and resistance is at 67.49. 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 short-term trend.
 Daily Technical Indicators: [See MCHP daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since December 4, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Information Technology |
7 |
| Industry |
Semiconductors |
29 |
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| Daily Trend |
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Low |
57.96 |
| Low Date |
12/05/2024 |
| High |
62.70 |
| High Date |
12/09/2024 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Broadening Descending Wedge |
| Status |
Valid |
| Resistance |
67.49 |
| Support |
47.59 |
| High |
71.10 |
| High Date |
11/25/2024 |
| Low |
57.96 |
| Low Date |
12/05/2024 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
82.87 |
| High Date |
08/21/2024 |
| Low |
57.96 |
| Low Date |
12/05/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
100.57 |
| High Date |
05/24/2024 |
| Low |
57.96 |
| Low Date |
12/05/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
54.33 |
| Low Date |
07/05/2022 |
| High |
100.57 |
| High Date |
05/24/2024 |
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