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

By Nick Russo

Microchip Tech (NASDAQ:MCHP) shares have crossed bullishly above their 10-day moving average of $69.30 on a volume of 711K 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 Tech has traded in a range of $53.15 to $112.47 and is now at $70.60, 33% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 4.7%.

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