How the (MCHP) price action is used to our Advantage
March 19, 2024, 08:36 am ET, BY Tom S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for MCHP
- Buy MCHP slightly over 86.13 target 93.47 stop loss @ 85.88 Details
The technical summary data tells us to buy MCHP near 86.13 with an upside target of 93.47. This data also tells us to set a stop loss @ 85.88 to protect against excessive loss in case the stock begins to move against the trade. 86.13 is the first level of support below 87.38 , and by rule, any test of support is a buy signal. In this case, support 86.13 is being tested, a buy signal would exist.
- Short MCHP slightly under 93.47, target 86.13, stop loss @ 93.74 Details
The technical summary data is suggesting a short of MCHP as it gets near 93.47 with a downside target of 86.13. We should have a stop loss in place at 93.74though. 93.47 is the first level of resistance above 87.38, and by rule, any test of resistance is a short signal. In this case, if resistance 93.47 is being tested, a short signal would exist.
Swing Trading Plans for MCHP
- Buy MCHP slightly over 88.39, target 92.85, Stop Loss @ 88.13 Details
If 88.39 begins to break higher, the technical summary data tells us to buy MCHP just slightly over 88.39, with an upside target of 92.85. The data also tells us to set a stop loss @ 88.13 in case the stock turns against the trade. 88.39 is the first level of resistance above 87.38, and by rule, any break above resistance is a buy signal. In this case, 88.39, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short MCHP slightly near 88.39, target 86.13, Stop Loss @ 88.65. Details
The technical summary data is suggesting a short of MCHP if it tests 88.39 with a downside target of 86.13. We should have a stop loss in place at 88.65 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 88.39, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Day Trading Plans for MCHP
- Buy MCHP slightly over 87.62, target 88.39, Stop Loss @ 87.42 Details
If 87.62 begins to break higher, the technical summary data tells us to buy MCHP just slightly over 87.62, with an upside target of 88.39. The data also tells us to set a stop loss @ 87.42 in case the stock turns against the trade. 87.62 is the first level of resistance above 87.38, and by rule, any break above resistance is a buy signal. In this case, 87.62, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short MCHP slightly near 87.62, target 86.13, Stop Loss @ 87.82. Details
The technical summary data is suggesting a short of MCHP if it tests 87.62 with a downside target of 86.13. We should have a stop loss in place at 87.82 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 87.62, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Check the time stamp on this data. Updated AI-Generated Signals for Microchip Technology Incorporated (MCHP) available here: MCHP.
MCHP Ratings for March 19:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Weak |
Strong |
Neutral |
| P1 |
0 |
0 |
78.98 |
| P2 |
87.62 |
88.39 |
86.13 |
| P3 |
88.93 |
92.85 |
93.47 |
AI Generated Signals for MCHP
Blue = Current Price
Red= Resistance
Green = Support
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Our job as #investors is to pay attention to the #stocks we own. Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The Microchip Technology Incorporated (NASDAQ: MCHP) data table below can help you with price action, and we have more details too. Trading plans for MCHP are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for MCHP:
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