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Microchip Technology Bullish Moving Average Crossover Alert (MCHP)

By David Diaz

Today, shares of Microchip Technology (NASDAQ:MCHP) have crossed bullishly above their 10-day moving average of $73.44 on a volume of 525K 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.

Over the past year, Microchip Technology has traded in a range of $28.92 to $76.50 and is now at $74.17, 156% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.0%.

SmarTrend recommended that subscribers consider buying shares of Microchip Technology on January 23rd, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $66.79. Since that recommendation, shares of Microchip Technology have risen 9.6%. We continue to monitor MCHP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses microchip technology

Ticker(s): MCHP