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Semiconductors Industry Stocks Technical Analysis - MCHPArchive
- 7/19/2024 -
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Microchip Technology (MCHP) Technical Analysis
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| Summary:
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| | It was the negative week for the Microchip Technology (MCHP). During the week, the MCHP dropped -3.84 points, or -4.15%, and closed at 88.77 on Friday, July 19, 2024. Weekly volume was 11% 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 chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 76.56 and resistance is at 114.22. A Broadening Ascending 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
 Medium-term trend: [See MCHP medium-term trend chart]
A medium-term downtrend had started on May 24, 2024 at 100.57 and reached 88.17 on June 25, 2024. MCHP lost 12.40 points, or 12.33%, in 4 weeks. Price is near the trend low.
 Weekly Technical Indicators: [See MCHP weekly technical indicators chart]
Weekly technical indicators are neutral.
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 low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. 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 June 25, 2024 at 88.17 and reached 96.98 on July 17, 2024. MCHP gained -8.81 points, or -9.99%, in 22 days. The chart has formed a Broadening Ascending Wedge chart pattern.
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.
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.
 Candlestick pattern: [See MCHP candlestick chart pattern]
On Friday the chart has formed a Bearish Three Black Crows Candlestick pattern. Use the Technical Stock Screener to see the list of stocks that had a Bearish Three Black Crows Candlestick pattern during the last week.
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