The Microchip Technology (NASDAQ: MCHP) report below can help you find opportunity, and manage risk. The trading plans for MCHP, and the other 1000+ stocks we follow, are updated in real time for subscribers. If you want an update, or a different report, please get one here Unlimited Real Time Reports .
Technical Summary
Term ? | Near | Mid | Long |
---|---|---|---|
Bias | Neutral | Weak | Strong |
P1 | 0 | 0 | 104.14 |
P2 | 135.38 | 134.99 | 122.23 |
P3 | 137.19 | 137.67 | 139.18 |
Long Term Trading Plans for MCHP
December 29, 2020, 3:15 am ET
The Technical Summary and Trading Plans for MCHP help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this MCHP Report.
MCHP - (Long) Support Plan
The technical summary data tells us to buy MCHP near 122.23 with an upside target of 139.18. This data also tells us to set a stop loss @ 121.88 to protect against excessive loss in case the stock begins to move against the trade. 122.23 is the first level of support below 136.25 , and by rule, any test of support is a buy signal. In this case, support 122.23 is being tested, a buy signal would exist.
MCHP - (Short) Resistance Plan
The technical summary data is suggesting a short of MCHP as it gets near 139.18 with a downside target of 122.23. We should have a stop loss in place at 139.58though. 139.18 is the first level of resistance above 136.25, and by rule, any test of resistance is a short signal. In this case, if resistance 139.18 is being tested, a short signal would exist.