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Downtrend Broken Resist.Archive
- 11/22/2024 -
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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 after 5 consecutive negative weeks for the Microchip Technology (MCHP). During the week, the MCHP gained 3.83 points, or 6.09%, and closed at 66.69 on Friday, November 22, 2024. It was the best weekly gain since August 16, 2024. Weekly volume was 35% 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 73.27% 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 62.63 on November 15, 2024. MCHP lost 37.94 points, or 37.72%, in 25 weeks. The price is now at the 10.70% retracement level.
 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. 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 November 15, 2024 at 62.63 and reached 66.89 on November 22, 2024. MCHP gained -4.26 points, or -6.80%, in 7 days. Price is near the trend high.
 Daily Technical Indicators: [See MCHP daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal.
The daily MACD line is below its signal line since October 30, 2024. The distance between MACD and the signal line is low and getting smaller.
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.
The distance between the Bollinger Bands is 123.53% higher then one year average. It indicates the period of high volatility of the stock price. 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.
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