Microchip Technology Incorporated Stock Forecast
Red day on Friday for Microchip Technology Incorporated
(Updated on Apr 19, 2024)
The Microchip Technology Incorporated stock price fell by -3.00% on the last day (Friday, 19th Apr 2024) from $84.21 to $81.68. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 4.09% from a day low at $80.90 to a day high of $84.21. The price has been going up and down for this period, and there has been a -6.73% loss for the last 2 weeks. Volume has increased on the last day by 2 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 7 million shares were bought and sold for approximately $549.50 million.
The stock has broken the wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $82.07. A reaction back to this level may hold a second chance to get out before further falls.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
MCHP Signals & Forecast
There are few to no technical positive signals at the moment. The Microchip Technology Incorporated stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $85.36 and $87.99. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -12.49%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Microchip Technology Incorporated stock
Microchip Technology Incorporated finds support from accumulated volume at $81.61 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 $3.31 (4.09%) between high and low. For the last week, the stock has had daily average volatility of 2.87%.
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 Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Microchip Technology Incorporated to open at $82.26, and during the day (based on 14 day Average True Range), to move between $79.16 and $84.20, which gives a possible trading interval of +/-$2.52 (+/-3.09%) up or down from last closing price. If Microchip Technology Incorporated takes out the full calculated possible swing range there will be an estimated 6.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $81.61 (0.09%) than the resistance at $84.29 (3.20%), 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: -3.789 Sell Candidate Unchanged
Predicted Opening Price for Microchip Technology Incorporated of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$82.26 ( 0.714%) | $81.68 |
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 | |||
---|---|---|---|---|
Resistance | R3 | 85.57 | 4.77 % | |
R2 | 84.31 | 3.22 % | ||
R1 | 83.53 | 2.26 % | ||
Current price: | 81.68 | |||
Support | S1 | 81.00 | -0.83 % | |
S2 | 80.22 | -1.79 % | ||
S3 | 78.95 | -3.34 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 88.64 | 8.52 % | |
R2 | 85.64 | 4.85 % | ||
R1 | 84.29 | 3.20 % | ||
Current price | 81.68 | |||
Support | S1 | 81.61 | -0.0857% | |
S2 | 80.67 | -1.24% | ||
S3 | 80.58 | -1.35% |
MCHP Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 01, 2024 | Feb 22, 2024 | Mar 08, 2024 | $0.450 | 0.507% |
2 | Nov 02, 2023 | Nov 21, 2023 | Dec 06, 2023 | $0.440 | 0.526% |
3 | Aug 03, 2023 | Aug 21, 2023 | Sep 05, 2023 | $0.410 | 0.503% |
4 | May 04, 2023 | May 19, 2023 | Jun 05, 2023 | $0.383 | 0.509% |
5 | Feb 02, 2023 | Feb 17, 2023 | Mar 07, 2023 | $0.358 | 0.436% |
FAQ
Click here for our free guide on how to buy Microchip Technology Incorporated Stock.