• Return to Headlines

Bearish Moving Average Cross by Microchip Tech (MCHP)

By Amy Schwartz

Microchip Tech (NASDAQ:MCHP) shares have crossed bearishly below their 10-day moving average of $94.45 on a volume of 6.7 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

Microchip Tech share prices have moved between a 52-week high of $104.20 and a 52-week low of $47.81 and are now trading 80% above that low price at $85.86 per share. The 200-day and 50-day moving averages have moved 0.10% higher and 0.11% higher over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Microchip Tech. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Microchip Tech in search of a potential trend change.

Keywords: moving crosses microchip tech

Ticker(s): MCHP