Watch These Microchip Technology Levels Amid Big Swings in Stock Price
Key Takeaways
- Microchip Technology shares could remain on watchlists after tumbling 14% Thursday to lead chip stocks lower during a broad post-rally sell-off for U.S. equities.
- This week’s price swings have occurred on the highest trading volume since February 2017, as investors take bets on the chipmaker’s next move.
- Investors should watch important support levels on Microchip’s chart around $34 and $30, while also monitoring key resistance levels near $50 and $56.
Microchip Technology (MCHP) shares could remain on watchlists after tumbling Thursday to lead chip stocks lower during a broad post-rally sell-off for U.S. equities.
Chip stocks such as Microchip, which makes silicon used in everything from consumer electronics…
