Live monitoring of the Bullish Flag setup on MCHP. See where price is heading.
Bullish continuation if preceding move was up.
Reversal pattern. Price likely to break downwards.
A clear signal has emerged for Microchip Technology (MCHP) on the daily chart. Price has moved to $78.69 (-0.29%) amidst recent volatility. Algorithmically, a **Bullish Flag** structure has completed. The trend indicator is reading 14.3/100, suggesting moderate momentum. A potential breakout level is identified at **$83.35**, targeting **$118.61** with support near **$73.38** (R:R 3.54).
What is your outlook on MCHP?