Microchip Technology Bearish Moving Average Crossover Alert (MCHP)
Microchip Technology (NASDAQ:MCHP) crossed under its 10-day moving average of $47.83 on a volume of 152K 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 Technology share prices have moved between a 52-week high of $52.44 and a 52-week low of $28.92 and are now trading 64% above that low price at $47.55 per share. 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