3 Large Caps Begging for a Short Squeeze

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Short Squeeze Target #3: Microchip Technology (MCHP)

032114MCHP 300x181 3 Large Caps Begging for a Short Squeeze
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Another short squeeze candidate from the technology sector is semiconductor companies Microchip Technologies (MCHP). MCHP shares spent the last four months breaking to new all-time highs, which has peaked the interest of bearish short sellers.

The short interest ratio for MCHP sits just above 12, partially as a result of a drop in daily volume. The move above $47 should serve as notice for the shorts to start buying shares to close their losing positions, triggering a short squeeze and helping the stock to potentially move higher.

As of this writing, Johnson Research Group did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, http://investorplace.com/2014/03/large-caps-short-squeeze/.

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