Chart Patterns & Algorithmic Trader ( Sept . 28 , ' 20 ) ( 56 )
MCHP
Cup & Handle Pattern s
Reviewed in CPAT 6 / 15 / 20
Microchip Tech ( MCHP ) is forming a Cup and Handle pattern on its daily chart and trading below 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 $ 96.11 . Targets are placed at $ 135.01 , $ 149.1 to $ 159.1 .
www . surinotes . com