The Hourly View for MCHP
Currently, MCHP (Get Ratings)’s price is up $0.56 (0.41%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
MCHP ranks 137th in terms of today’s price percentage change out of Electronic Equipment stocks.
MCHP’s Technical Outlook on the Daily Chart
At the time of this writing, MCHP’s price is down $-2.29 (-1.63%) from the day prior. This move is a reversal from the day prior, which saw price move up. As for the trend on the daily timeframe, we see the clearest trend on the 20 day timeframe. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. Microchip Technology Inc’s price action over the past 90 days can be seen via the chart below.
MCHP: Daily RSI Analysis
For MCHP News Traders
News traders keeping an eye on MCHP may find value in this recent story:
Adaptec® Smart Storage Adapters Provide Increased Performance, Security and Scalability While Simplifying Storage ManagementCHANDLER, Ariz., July 21, 2021 (GLOBE NEWSWIRE) — Cloud service providers and server original equipment manufacturers (OEMs) designing storage platforms demand exceptional performance, flexibility and security for the next generation of data centers. Microchip Technology Inc. (Nasdaq: MCHP) today announced the Adaptec® Smart Storage PCIe® Gen 4 NVMe Tri-Mode SmartRAID 3200
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