Hubert Senters here.
Let’s take a look at MCHP. It has broken this little triple bottom it’s got going on. Here’s one bottom, two bottoms and then three bottoms. That would be a triple bottom. So the area of support was $81.73 down to $79.01 so it’s broken at so what we’re going to do is we’re going to try to figure out where the next level of support is so.
I’m going to make this a longer timeframe chart. Let’s look at the weekly so we’ve got a couple of definite ones we can pick at here. It can definitely drop to $75 from $79 to $75 so that’s another four points. And if that doesn’t hold it’s probably going to drop all the way down to $71.
So I would say $75 to $71 and then if that does not hold we could drop all the way down to $62 so keep an eye on MCHP for a good short to the downside.
I’ve been asked to speak at the Wealth365 summit on October 8th to October 13th. I don’t know what my date is. I do know I’m speaking. It’s a week-long event. It’s going to be all over trading and investing. The two main themes of their summit this time is the election because that will move the markets.
And number two earnings that always lose the markets and it’s only going to be on trading and investing. They’re not going to be covering any entrepreneurship or cryptos or any other stuff. It’s either just trading or investing. So stock options futures, forex, stuff like that. I’m going to HYPERLINK you over here to the form.
All you got to do is just fill it out to register. It is free to register so you have to do is do first name, e-mail address, phone number click that big yellow button that says claim your free seat now. And that will do it.
Good luck. Hope it helps. And I’ll see you on the next video.
Hubert.
