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Microchip Tech Bullish Moving Average Crossover Alert (MCHP)

By James Quinn

Today, shares of Microchip Tech (NASDAQ:MCHP) have crossed bullishly above their 10-day moving average of $86.05 on a volume of 502K 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.

Microchip Tech share prices have moved between a 52-week high of $104.20 and a 52-week low of $60.70 and are now trading 42% above that low price at $86.42 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.4%.

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