• Return to Headlines

Look for Shares of Microchip Tech to Potentially Pullback after Yesterday's 2.35% Rise

By Shiri Gupta

Microchip Tech (NASDAQ:MCHP) traded in a range yesterday that spanned from a low of $82.60 to a high of $83.29. Yesterday, the shares gained 2.4%, which took the trading range above the 3-day high of $82.42 on volume of 1.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Microchip Tech have traded between a low of $53.15 and a high of $112.47 and are now at $83.98, which is 58% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 3.6%.

SmarTrend is tracking the current trend status for Microchip Tech and will alert subscribers who have MCHP in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders microchip tech

Ticker(s): MCHP