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

By Shiri Gupta

Today, shares of Microchip Tech (NASDAQ:MCHP) have fallen below their 10-day MA of $83.44 on a volume of 579K 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.

Over the past year, Microchip Tech has traded in a range of $60.70 to $104.20 and is now at $82.25, 36% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

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