Do Traders Think Microchip Technology Inc. (MCHP) Can Keep Climbing Tuesday?

The market has been high on Microchip Technology Inc. (MCHP) stock recently. MCHP gets a Bullish score from InvestorsObserver Stock Sentiment Indicator.

Microchip Technology Inc. has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on MCHP!

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What is Stock Sentiment?

Sentiment is a very short-term indicator that is entirely technical. There is no information about the health of profitability of the underlying company in our sentiment score. As a technical indicator, news about the stock, or company, such as an earnings release or other event, could move the stock counter to the recent trend. Sentiment is how investors, or the market, feels about a stock. There are lots of ways to measure sentiment. At the core, sentiment is pretty easy to understand. If a stock is going up, investors must be bullish, while if it is going down, sentiment is bearish. InvestorsObserver’s Sentiment Indicator looks at price trends over the past week and also considers changes in volume. Increasing volume can mean a trend is getting stronger, while decreasing volume can mean a trend is nearing a conclusion. For stocks that have options, our system also considers the balance between calls, which are often bets that the price will go up, and puts, which are frequently bets that the price will fall.

What's Happening With MCHP Stock Today?

Microchip Technology Inc. (MCHP) stock is trading at $83.80 as of 2:19 PM on Tuesday, Nov 30, a decline of -$0.60, or -0.71% from the previous closing price of $84.40. Volume today is 4,570,461 compared to average volume of 3,751,160. The stock has traded between $82.50 and $85.75 so far today. To screen for more stocks like Microchip Technology Inc. click here.

More About Microchip Technology Inc.

Microchip became an independent company in 1989 when it was spun off from General Instrument. More than half of revenue comes from MCUs, which are used in a wide array of electronic devices from remote controls to garage door openers to power windows in autos. The company's strength lies in lower-end 8-bit MCUs that are suitable for a wider range of less technologically advanced devices, but the firm has expanded its presence in higher-end MCUs and analog chips as well. Click Here to get the full Stock Report for Microchip Technology Inc. stock.