Chart Patterns & Algorithmic Trader (Aug. 24, '20) (72)
MCHP Cup & Handle Pattern
s
Reviewed in CPAT
Microchip Tech (MCHP) is forming a Cup and Handle pattern on its daily chart and
trading near the breakout level of $112.57. C&H patterns are valid only when price
closes above the breakout level. A long trade is entered above the breakout level with
a stop placed below the lowest low of the mid cup $82.81, and the handle low $96.46.
Targets are placed at $135.01, $149.1 to $159.1.
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