MCHP has arrived at a key historical support level, and we’ve now seen 3 consecutive doji candles, indicating indecision but a potential bullish reversal. The stock remains in a long-term uptrend, with the all-time high (ATH) not far off.
Increased volume suggests renewed buying pressure, offering an excellent 1:25 risk-to-reward ratio if support holds. After my stop was triggered this month, I’ve bought back in, confident in the strength of this setup.