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Microchip Tech Crosses Above its 10-day MA (MCHP)

By Shiri Gupta

Today, shares of Microchip Tech (NASDAQ:MCHP) have crossed bullishly above their 10-day moving average of $102.21 on a volume of 289K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of Microchip Tech have traded between a low of $47.81 and a high of $104.20 and are now at $102.66, which is 115% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.9%.

SmarTrend recommended that subscribers consider buying shares of Microchip Tech on May 7th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $88.68. Since that recommendation, shares of Microchip Tech have risen 15.1%. We continue to monitor MCHP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses microchip tech

Ticker(s): MCHP