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Bullish Moving Average Cross by Microchip Technology (MCHP)

By James Quinn

Today, shares of Microchip Technology (NASDAQ:MCHP) have crossed bullishly above their 10-day moving average of $50.14 on a volume of 247K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, Microchip Technology share prices have been bracketed by a low of $28.92 and a high of $53.17 and are now at $50.37, 74% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.0%.

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

Keywords: moving crosses microchip technology

Ticker(s): MCHP