Microchip Technology On The Brink: Looming Death Cross Raises Bearish Concerns

Quick Summary:

Microchip Technology Inc.(NASDAQ:MCHP) is teetering on the edge of a significant technical breakdown as its moving averages hint that the stock may be nearing the dreaded Death Cross.With the stock down 6.22% year-to-date and a steep 8.5% in the past month alone, the once-strong chipmaker is now facing a formidable challenge.

Moving Averages On A Collision Course

The stock price of Microchip Technology currently sits at $80.85, with the 50-day simple moving average (SMA) at $87.91 and the 200-day SMA at $87.33.Chart created using ...

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Article Details

Author / Journalist: Surbhi Jain

Category: Technology

Markets: United States

Topics: Tech Semiconductors Technicals US5950171042 Benzinga MCHP Trading Ideas Stories That Matter Expert Ideas Top Stories Death Cross

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-19 @ 15:09:38 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 330 words

Reading Time: 2 minutes read

Sentences: 15 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 22143293

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