Microchip Technology On The Brink: Looming Death Cross Raises Bearish Concerns

Microchip Technology Inc. MCHP is teetering on the edge of a significant technical breakdown as its moving averages hint that the stock may be nearing the dreaded Death Cross. With the stock down 6.22% year-to-date and a steep 8.5% in the past month alone, the once-strong chipmaker is now facing a formidable challenge. Moving Averages On A Collision Course The stock price of Microchip Technology currently sits at $80.85, with the 50-day simple moving average (SMA) at$87.91 and the 200-day SMA at $87.33. Ch ...