MCHP ready to move higher?

* Exceptional earnings
* Very strong up trend
* High 3-month relative strength in the Tech sector
* Broke out of an 11 month range on November 4th
* Since the breakout it has been consolidating above the broken level making it a new support
* Maximum probable ROI would be 25.60% if the trade goes in our favor

Trade Idea:
* Now's a great time to enter as the price is really close to the broken level and the volume shows institutional interest after 2 weeks of tight consolidation.
* If you're looking for a slight discount you can look to buy near the $82.40 area as that has been serving as support for the past ~13 days
* Consider taking partial profits at $92.40

Caution:
* A daily close below $82.41 could put this idea in trouble.
* Consider exiting the trade early if the price make 4 consecutive lower lows on a daily basis