Will Downtrend Momentum Persist In MCHP Stock Price In The Future?

  • Microchip Technology Incorporated is an American publicly traded company that produces integrated circuits for mixed-signal, analog, Flash-IP, and microcontroller applications.
  • As of October 30, 2023, the MCHP stock’s market capitalization is $2.238 billion. It is now available for $72.26 on the market.

Microchip Technology Incorporated (NASDAQ: MCHP) offers products that are microcontrollers (PIC, dsPIC, AVR, and SAM), serial EEPROM, serial SRAM devices, embedded security devices, radio frequency (RF) devices, analog devices for thermal, power, and battery management, linear, interface, and wireless products.

Fundamental Information of Microchip Technology

In 1989, Microchip Technology Incorporated, an American Semiconductor company,  was founded by Steve Sanghi.

The MCHP Company’s strong fundamentals may attract investors. In 2022, the company’s total revenue increased by $1.62 billion from the year before to $8.44 billion. In 2022, the company’s gross profit increased from the previous year to $4.96 billion. It increased by $1.43 billion in 2022. Additionally, its net income for 2022 increased by $952.20 million from the prior year to $2.24 billion.

1-D Technical Index of MCHP

The 100-day exponential moving average (EMA) indicates a selling preference at the current market price of $79.80. Furthermore, the 200-day EMA also points to selling momentum at $79.07.

The 100-day SMA signals selling interest at the $82.51 price point. In addition, the 200-day simple moving average (SMA) suggests selling potential at $80.74.

Technical Analysis of MCHP 

Source: NASDAQ: MCHP by Trading View

The MCHP Stock price reached its all-time high on July 31, 2023, in the 1-D time frame, which was around $94.31. The MCHP Stock is down by 0.69% today. As we can see, the MCHP Stock price began to go in a downtrend motion. Since August 2023, it has been moving in the same downward pattern. 

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The falling three red candles pattern indicates that the MCHP Stock was under the presence of bears in recent times. This pattern implies that it might continue to move downward in the future. In the last 6 months, MCHP Stock rose by 0.24% and last month MCHP Stock was down by 5.84%. In the Last 5 years, MCHP Stock has been down by 59%. MCHP Stock was up by 13% in the last year. In the 5-D analysis, the MCHP Stock is down by 3.55%. 

Fear has a reading of 39 on the F&I Index. Its price has changed at a rate of  2.74% over the last 30 days.  


According to predictions made by advisors, MCHP Stock might fall to $71.96 by 4 November 2023. This would be equivalent to a drop in value by 0.41%, which is not a huge downfall for any stock at all.

Technical Levels

Support level- $74.57 and $71.08

Resistance level- $82.21 and $86.36


The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss. 

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