user warning: Table './fnndrupaldev/term_node' is marked as crashed and last (automatic?) repair failed query: SELECT t.* FROM term_node r INNER JOIN term_data t ON r.tid = t.tid INNER JOIN vocabulary v ON t.vid = v.vid WHERE r.vid = 432646 ORDER BY v.weight, t.weight, t.name in /var/www/www.fnno.com/htdocs/modules/taxonomy/taxonomy.module on line 617.

Microchip Technology (MCHP) Crosses Pivot Point Resistance at $33.75

Published on Wed, 01/30/2013 - 13:39
By Peter Chu

Shares of Microchip Technology (NASDAQ:MCHP) opened today above their pivot of $33.51 and have already reached the first level of resistance at $33.75. Analysts will be watching for a cross of the next upside pivot targets of $33.91 and $34.31.

Microchip Technology has overhead space with shares priced $33.74, or 4.1% below the average consensus analyst price target of $35.20. The stock should discover initial support at its 200-day moving average (MA) of $32.74 and subsequent support at its 50-day MA of $31.88.

Microchip Technology Incorporated designs, manufactures, and markets microcontrollers, related mixed-signal and memory products, and application development systems for high-volume embedded control applications. The Company also designs, develops, and markets linear/mixed-signal, power management, and thermal management products.

Microchip Technology share prices have moved between a 52-week high of $41.50 and a 52-week low of $28.92 and are now trading 17% above that low price at $33.74 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.

By Peter Chu
pchu@fnno.com

Latest News from FNNO

Shares of United Therapeutics Have Risen...

United Therapeutics (NASDAQ:UTHR) traded at a new 52-week high today of $130.44. This ...

Union Pacific: The Winning Streak Contin...

Union Pacific (NYSE:UNP) traded at a new 52-week high today of $109.35. Approximately ...

Tuesday Morning Looks to Continue to Tra...

Tuesday Morning (NASDAQ:TUES) traded at a new 52-week high today of $19.52. So far tod ...

Watch for Continued Gains in Shares of T...

TeleNav (NASDAQ:TNAV) traded at a new 52-week high today of $7.80. This new high was r ...

Shares of Teradyne Have Risen Above Prev...

Teradyne (NYSE:TER) traded at a new 52-week high today of $20.88. Approximately 1.2 mi ...

Recent 52-Week High Exceeded in Shares o...

Shares of Sierra Wireless (NASDAQ:SWIR) traded today at $30.45, breaking its 52-week hi ...

Watch for Continued Gains in Shares of S...

Steel Dynamics (NASDAQ:STLD) traded today at a new 52-week high of $25.16. So far toda ...

Sanofi-Aventis: 52-Week High Recently Ec...

Shares of Sanofi-Aventis (NYSE:SNY) traded today at $56.86, breaking its 52-week high. ...