Microchip Tech Rises 1.90% on Heavy Volume: Watch For Potential Pullback

Microchip Tech Rises 1.90% on Heavy Volume: Watch For Potential Pullback

35
0
SHARE


Microchip Tech Rises 1.90% on Heavy Volume: Watch For Potential Pullback

Oct 19, 2020 (SmarTrend(R) News Watch via COMTEX) —

Microchip Tech (NASDAQ:MCHP) traded in a range yesterday that spanned from a low of $112.61 to a high of $114.85. Yesterday, the shares gained 1.9%, which took the trading range above the 3-day high of $112.34 on volume of 145,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend is monitoring the recent change of momentum in Microchip Tech. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Microchip Tech in search of a potential trend change.

Microchip Tech share prices have moved between a 52-week high of $116.56 and a 52-week low of $53.15 and are now trading 113% above that low price at $113.08 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.9%.

Write to SmarTrend at cs@mysmartrend.com

———————————————————————————————

SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com

Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

comtex tracking

Copyright, Comtex News Network, Inc. 2020



Source link

LEAVE A REPLY