MICROCHIP TECHNOLOGY INC. - 1H - Technical analysis published on 09/12/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
56%
0%
44%
My opinion
Bearish under 81.57 USD
My targets
78.71 USD (-0.91%)
77.20 USD (-2.81%)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on MICROCHIP TECHNOLOGY INC.. As long as you are under the resistance located at 81.57 USD, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 78.71 USD would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 77.20 USD as an objective. Crossing it would then enable sellers to target 75.49 USD. If the resistance 81.57 USD were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.
Technical indicators are opposing the general bearish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
Force
0
10
0.7
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The MICROCHIP TECHNOLOGY INC. price is 79.43 USD. On the day, this instrument lost -0.04% and was traded between 78.57 USD and 79.95 USD over the period. The price is currently at +1.09% from its lowest and -0.65% from its highest.78.57
79.95
79.43
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by MICROCHIP TECHNOLOGY INC.:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this MICROCHIP TECHNOLOGY INC. chart shows a bearish trend. 71.43% of the signals given by moving averages are bearish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 1 hour
The probability of a further increase are moderate given the direction of the technical indicators.
Other results related to technical indicators were also found by the Central Indicators scanner:
Price is back over the pivot point
Type : Bullish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Williams %R indicator is back over -50
Type : Bullish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Near support of triangle
Type : Bullish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 75.49 | 77.20 | 78.71 | 79.43 | 81.57 | 84.90 | 86.61 |
Change (%) | -4.96% | -2.81% | -0.91% | - | +2.69% | +6.89% | +9.04% |
Change | -3.94 | -2.23 | -0.72 | - | +2.14 | +5.47 | +7.18 |
Level | Minor | Major | Major | - | Major | Minor | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 76.20 | 77.12 | 78.29 | 79.21 | 80.38 | 81.30 | 82.47 |
Camarilla | 78.89 | 79.08 | 79.27 | 79.46 | 79.65 | 79.84 | 80.04 |
Woodie | 76.33 | 77.18 | 78.42 | 79.27 | 80.51 | 81.36 | 82.60 |
Fibonacci | 77.12 | 77.92 | 78.41 | 79.21 | 80.01 | 80.50 | 81.30 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 72.55 | 75.32 | 77.05 | 79.82 | 81.55 | 84.32 | 86.05 |
Camarilla | 77.54 | 77.96 | 78.37 | 78.78 | 79.19 | 79.61 | 80.02 |
Woodie | 72.03 | 75.06 | 76.53 | 79.56 | 81.03 | 84.06 | 85.53 |
Fibonacci | 75.32 | 77.04 | 78.10 | 79.82 | 81.54 | 82.60 | 84.32 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 58.90 | 68.05 | 74.94 | 84.09 | 90.98 | 100.13 | 107.02 |
Camarilla | 77.43 | 78.90 | 80.37 | 81.84 | 83.31 | 84.78 | 86.25 |
Woodie | 57.78 | 67.49 | 73.82 | 83.53 | 89.86 | 99.57 | 105.90 |
Fibonacci | 68.05 | 74.17 | 77.96 | 84.09 | 90.21 | 94.00 | 100.13 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
RSI (14): | 49.93 | |
MACD (12,26,9): | -0.2300 | |
Directional Movement: | 4.16 | |
AROON (14): | -14.28 | |
DEMA (21): | 78.86 | |
Parabolic SAR (0,02-0,02-0,2): | 78.29 | |
Elder Ray (13): | 0.01 | |
Super Trend (3,10): | 80.48 | |
Zig ZAG (10): | 79.38 | |
VORTEX (21): | 1.0100 | |
Stochastique (14,3,5): | 50.88 | |
TEMA (21): | 79.05 | |
Williams %R (14): | -33.49 | |
Chande Momentum Oscillator (20): | 0.65 | |
Repulse (5,40,3): | 0.8600 | |
ROCnROLL: | -1 | |
TRIX (15,9): | -0.0700 | |
Courbe Coppock: | 0.65 |
MA7: | 80.23 | |
MA20: | 80.19 | |
MA50: | 85.03 | |
MA100: | 81.52 | |
MAexp7: | 79.17 | |
MAexp20: | 79.26 | |
MAexp50: | 79.85 | |
MAexp100: | 80.53 | |
Price / MA7: | -1.00% | |
Price / MA20: | -0.95% | |
Price / MA50: | -6.59% | |
Price / MA100: | -2.56% | |
Price / MAexp7: | +0.33% | |
Price / MAexp20: | +0.21% | |
Price / MAexp50: | -0.53% | |
Price / MAexp100: | -1.37% |
Quotes :
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15 min delayed data
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NASDAQ Stocks
News
The latest news and videos published on MICROCHIP TECHNOLOGY INC. at the time of the analysis were as follows:
- Microchip Unveils Industry-Leading 3.3 kV Silicon Carbide (SiC) Power Devices Enabling New Levels of Efficiency and Reliability
- Computing-in-Memory Innovator Solves Speech Processing Challenges at the Edge Using Microchip’s Analog Embedded SuperFlash® Technology
- Industry’s Only Family of Standard Non-Hybrid Space-Grade Power Converters Now Includes 28 Volt (V)-Input Radiation-Tolerant Options
- Microchip and Acacia Collaborate to Enable Market Transition to 400G Pluggable Coherent Optics for Data Center Routing, Switching and Metro OTN Platforms
- DARPA Researchers Can Now Accelerate Technology Innovation Using Microchip’s Low-Power FPGA Product Families
This member declared not having a position on this financial instrument or a related financial instrument.
About author
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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