Who is gonna win this battle: cup and handle or rising wedge ?
MCHP made a nice “buy the dip” on Tuesday creating a “cup and handle” pattern that combined with the ABCD pattern gives a forecast for a possible target price at point (D).
If that happens, MCHP will break the resistance line and go into a new trend which it will then surely test again.
Of course...
The PEAD projected a bullish outlook for $MHCP after a positive under reaction following its earnings release placing the stock in drift A
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Primary analysis after new developments:
The handle has morphed in to a rectangle
Much like A<MD did
Volume is flat which is characteristic of a rectangle/look for an increase in volume otheriwise it may bump up and down in the rectangle
Maybe a swing trade, or maybe not..depends on what youl like
I am personally not a fan of trading inside of rectangles. But we are all different.
I do not think this...
MCHP has stalled and looks to be in a rectangle. I have been noticing it goes up then back down like it is struggling. Top of rectangle is
The possible market rotation has been tough for any type of tech stocks it seems
Mid rectangle can be a stop if it breaks up or down from rectangle
I am hoping MCHP will regain momentum but for now, it is not looking too...
Beautiful breakout - It's a nice long set up. As all the indexes are likely to head higher most stocks will benefit especially tech stocks. There is a high reward ahead it seems on this one. This is just an opinion. Please do your own homework before investing.
Handle low is 96.45
So close and yet so far! MCHP is trying to reach through some hard R. I am wondering if a pull back is coming at this point. Monthly candle is a hammer as is weekly
I have hung in there for monthes on this one waiting on it to break out! B/O 112.5 but since it hit 113.28 and did not break out..a bit of a set back
I would say B/O is now over...
So close and yet so far!
I have hung in there for monthes on this one waiting on it to break out!
It has been trying. A few times I thought it was a goner
The chart is very bullish..I am planning to hang. Short interest is increasing..Bummer..I do not like them.lol
Not a recommendation
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...
Hey investors, MICROCHIP TECHNOLOGY is in a fake bearish movement large volume of sales and similarly the session before, it leaves to make a reversal on its last previous low point. It wants to try to go to strong trend support level with great possibility of rising in the consolidation zone to breakout eventually and join its new zone. We go to the next high and...
MCHP has recovered after an earnings beat that sent the stock down anyway. Go figure?
Closing in on possible Break out of cup and handle pattern.
Has barely penetrated upper trend line of A Triangle
Not a recommendation
We can't always just focus on our next shot. It is often a good idea to look at the whole table and play defense and set up for your next shot.
MCHP has fallen from it's rising wedge and seems to be recovering
Earnings are tomorrow AMC
I guess break out depends on earnings
I own this but I do not recommend it
![MCHP: POSSIBLE OF BREAKOUT [MICROCHIP]](https://s3.tradingview.com/l/L4R1jnJP_mid.png "POSSIBLE OF BREAKOUT [MICROCHIP]")
