Tuesday, April 28, 2009

Stock Chart Analysis MCHP

MCHP Microchip Technology Inc. (Public, NASDAQ:MCHP)

While the markets have been looking weak, I noticed more than a few semiconductor equipment stocks tonight with interesting patterns are developing.

There are more then a few that look like they are attempting bottoming patterns.

MCHP is one for instance. Although it has plenty of overhead resistance, the recent action shows the stock still fluctuating.

Over time, however, it is determined to increase in value.

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