Microchip Technology Incorporated Stock Forecast
Green day on Tuesday for Microchip Technology Incorporated stock after gaining 0.513%
(Updated on Jul 02, 2024)
The Microchip Technology Incorporated stock price gained 0.513% on the last trading day (Tuesday, 2nd Jul 2024), rising from $91.59 to $92.06. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.82% from a day low at $91.01 to a day high of $92.67. The price has risen in 6 of the last 10 days and is up by 1.14% over the past 2 weeks. Volume fell on the last day by -5 million shares and in total, 3 million shares were bought and sold for approximately $305.69 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.35% during the next 3 months and, with a 90% probability hold a price between $92.10 and $108.63 at the end of this 3-month period.
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MCHP Signals & Forecast
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Microchip Technology Incorporated stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $93.74. On a fall, the stock will find some support from the short-term average at $90.42. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -7.47%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Microchip Technology Incorporated stock
Microchip Technology Incorporated finds support from accumulated volume at $91.58 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.66 (1.82%) between high and low. For the last week, the stock has had daily average volatility of 1.99%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MCHP) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Microchip Technology Incorporated to open at $91.91, and during the day (based on 14 day Average True Range), to move between $89.69 and $94.43, which gives a possible trading interval of +/-$2.37 (+/-2.58%) up or down from last closing price. If Microchip Technology Incorporated takes out the full calculated possible swing range there will be an estimated 5.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $91.58 (0.52%) than the resistance at $93.36 (1.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Microchip Technology Incorporated stock A Buy?
The Microchip Technology Incorporated stock holds several negative signals and despite the positive trend, we believe Microchip Technology Incorporated will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.174 Sell Candidate Unchanged
Predicted Opening Price for Microchip Technology Incorporated of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
$91.91 ( 0.159%) | $92.06 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MCHP
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 93.57 | 1.64% |
R2 | 92.94 | 0.96% |
R1 | 92.55 | 0.529% |
Price | 92.06 | |
S1 | 91.28 | -0.85% |
S2 | 90.89 | -1.27% |
S3 | 90.25 | -1.96% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 99.49 | 8.07% |
R2 | 94.30 | 2.43% |
R1 | 93.36 | 1.41% |
Price | 92.06 | |
S1 | 91.58 | -0.521% |
S2 | 91.50 | -0.608% |
S3 | 89.15 | -3.16% |
MCHP Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 21, 2024 | May 21, 2024 | Jun 05, 2024 | $0.452 | 0.479% |
2 | Feb 01, 2024 | Feb 22, 2024 | Mar 08, 2024 | $0.450 | 0.507% |
3 | Nov 02, 2023 | Nov 21, 2023 | Dec 06, 2023 | $0.440 | 0.526% |
4 | Aug 03, 2023 | Aug 21, 2023 | Sep 05, 2023 | $0.410 | 0.503% |
5 | May 04, 2023 | May 19, 2023 | Jun 05, 2023 | $0.383 | 0.509% |
FAQ
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