$MCHP descending triangle breaking out? 👀
Topped near $105 in May, then spent four months printing lower highs into the falling rail while $71 held as the floor. That's a flat base under a shrinking ceiling.
Now sitting at $77.61, right at the rail after the September bounce.
Next is $87, then $98, then $105.91, which takes it back to the May high. Lose $70 and the triangle is dead.
✅ Break above $74 - restest done and now holding above descending line
🟢 TP1 $87 · TP2 $98 · TP3 $105.91
⛔ Invalid: daily close $70
#stocks
Topped near $105 in May, then spent four months printing lower highs into the falling rail while $71 held as the floor. That's a flat base under a shrinking ceiling.
Now sitting at $77.61, right at the rail after the September bounce.
Next is $87, then $98, then $105.91, which takes it back to the May high. Lose $70 and the triangle is dead.
✅ Break above $74 - restest done and now holding above descending line
🟢 TP1 $87 · TP2 $98 · TP3 $105.91
⛔ Invalid: daily close $70
#stocks
