Here we can see 
MCHP has completed a two year-long Head and Shoulder pattern. Furthermore, to add to our bullish bias for a breakout to all time highs, a smaller Ascending Triangle has formed as part of the right shoulder. Also, this Ascending Triangle almost has the same resistance as the larger Head and Shoulder pattern. A breakout for the Ascending Triangle would almost certainly mean a breakout for the larger pattern and that's just what we got!
Having completed the breakout of this chart pattern, I look for MICROCHIP TECHNOLOGY to stay on its journey to new all time highs; targeting price: $142.37
If you found this idea to be informational or helpful, consider leaving a like or comment!
Cheers
MCHP has completed a two year-long Head and Shoulder pattern. Furthermore, to add to our bullish bias for a breakout to all time highs, a smaller Ascending Triangle has formed as part of the right shoulder. Also, this Ascending Triangle almost has the same resistance as the larger Head and Shoulder pattern. A breakout for the Ascending Triangle would almost certainly mean a breakout for the larger pattern and that's just what we got!Having completed the breakout of this chart pattern, I look for MICROCHIP TECHNOLOGY to stay on its journey to new all time highs; targeting price: $142.37
If you found this idea to be informational or helpful, consider leaving a like or comment!
Cheers
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.