Microchip (NASDAQ:MCHP) downgraded to Underperform from Neutral at BofA/Merrill. The stock closed yesterday at $26.77 on volume of 2,003,851 shares, below average daily volume of 3,286,344.

Microchip Technology is currently above its 50-day moving average of $26.14 and above its 200-day moving average of $23.50.

SmarTrend is bullish on shares of MCHP and our subscribers received an Uptrend alert on November 09, 2009 at $25.95, which has returned 3.2% to date.

Contact Chip Brian

SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.TradeTheTrend.com.

Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at www.TradeTheTrend.com/signup.html