MICROCHIP TECHNOLOGY $MCHP Technical Update – Stock Traders Daily

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MICROCHIP TECHNOLOGY $MCHP Technical Update

The MICROCHIP TECHNOLOGY (NASDAQ: MCHP) update and the technical summary table below can help you manage risk and optimize returns. We have day, swing, and longer-term trading plans for MCHP, and 1300 other stocks too, updated in real time for our trial subscribers. The data below is a snapshot, but updates are available now.

Review the Trading Plans:

Technical Summary

Term → Near Mid Long
Bias Strong Neutral Neutral
P1 95.40 86.17 84.85
P2 97.54 94.13 95.62
P3 98.63 102.02 106.04

Long Term Trading Plans for MCHP

August 9, 2018, 9:40 pm 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

Buy over 95.62 target 106.04 stop loss @ 95.36.
The technical summary data tells us to buy MCHP near 95.62 with an upside target of 106.04. This data also tells us to set a stop loss @ 95.36 to protect against excessive loss in case the stock begins to move against the trade. 95.62 is the first level of support below 97.11 , and by rule, any test of support is a buy signal. In this case, support 95.62 is being tested, a buy signal would exist.

MCHP – (Short) Resistance Plan

Short under 106.04 target 95.62 stop loss @ 106.3
The technical summary data is suggesting a short of MCHP as it gets near 106.04 with a downside target of 95.62. We should have a stop loss in place at 106.3 though. 106.04 is the first level of resistance above 97.11, and by rule, any test of resistance is a short signal. In this case, if resistance 106.04 is being tested, a short signal would exist.

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