HI TRADERS ✌The possible scenario of MCHP is specified.As you can see, it is an upward trend from the range of $55. It is currently in the range of $82. We can expect that the price will grow to the range of $85 if it stabilizes above the support range of $79/$77. According to the formed HIGH and LOW, if the trend is still upward, the possibility of a new HIGH in...
MCHP LONG - Buy Entry - D1 Chart
Buy @ Market
Symbol: MCHP - Microchip Technology Inc
Timeframe: D1
Type: BUY
Entry Price: Buy @ Market
Last High - Resistance @ 88.98
Resistance @ 87.69
Pivot Point Yearly @ 80.36
Resistance becomes Support @ 77.00
Support @ 73.64
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Corridor Breakout out of a 3-month price correction. Moderate possibility to hit the uptrend resistance line.
Target price set at resistance line bounce.
- 3-Month Uptrend before correction
- RSI and STOCH well above 50
- MACD well above Signal
Suggested Entry $110.44
Suggested Stop Loss $106.77
Target price $128.15
Note that I tend to adjust stop losses in...
