Stock Picks – Microchip Technology Inc-MCHP

by Sam Collins | November 30, 2009 12:54 pm

 

Microchip Technology Inc. (MCHP[1]) – This manufacturer of semiconductor products — including PIC microcontrollers and digital signal controllers with on-board flash memory technology — bottomed in January. 

MCHP CHart 

Chart Legend

Since then, it has made steady progress with intermittent periods of consolidation leading to a series of breakouts from triangles[2]. 

The recent break was accompanied by extraordinarily high volume[3], and my trading target is $31-$32.

S&P has a five-star (strong buy) rating on MCHP with a 12-month target price of $33.

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Links in this item:
  1. MCHP: http://studio-5.financialcontent.com/investplace/quote?Symbol=mchp
  2. triangles: http://www.optionszone.com/learn-more/john-lansing/technical-analysis-101-triangles.html
  3. volume: http://www.optionszone.com/learn-more/john-lansing/trading-volume.html
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  5. : http://www.optionszone.com/order/?sid=LF3270

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