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Next Resistance Level for Microchip Technology (MCHP) is $75.88

By Amy Schwartz

Microchip Technology (NASDAQ:MCHP) has opened bullishly above the pivot of $74.92 today and has reached the first level of resistance at $75.37. Should the shares continue to rise, the resistance pivots of $75.88 and $76.84 will be of interest.

Over the past year, Microchip Technologyhas traded in a range of $0.00 to $76.50 and are now at $0.00. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has risen 0.2%.

There is potential upside of 0.0% for shares of Microchip Technology based on a current price of $0.00 and an average consensus analyst price target of $84.27. The stock should run into initial resistance at its 200-day moving average (MA) of $45.36 and subsequent resistance at its 50-day MA of $48.13.

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 12.1%. We continue to monitor MCHP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts microchip technology

Ticker(s): MCHP