Microsemi Corporation (NasdaqGS: MSCC)

Microsemi Corporation designs, manufactures, and markets analog and mixed-signal semiconductor solutions in the United States, Europe, and Asia. The company offers radio frequency (RF) and power components, analog and RF integrated circuits, system-on-chip solutions, field programmable gate arrays, application-specific integrated circuits, power management products, timing and synchronization devices and precise time solutions, chip scale atomic clocks, voice processing devices, discrete components, security technologies, and scalable anti-tamper products. It also provides subsystems and modules that include application-specific power modules, and power-over-ethernet and midspans. The company distributes its product directly, as well as through electronic component distributors and independent sales representatives.
Take a look at the 1-year chart of Microsemi (NASDAQ: MSCC) with the added notations:

MSCC may be forming a bearish chart pattern known as a double top. Double tops are reversal patterns and are as simple as they sound: Rallying up to a point (T), selling off to a support, and then rallying back up again to approximately the same top (T).
MSCC appears to have formed the double top price pattern (blue) over the last 4 months. As with any price pattern, a confirmation of the pattern is needed. MSCC would confirm its pattern by breaking the $32 support (green) that was created by the double top pattern.

The Tale of the Tape: MSCC has formed a potential double top. A short trade could be made on a break of the $32 level. Since there is no guarantee of a breakdown, a long trade could be made at $32 if a trader is willing to disregard the pattern.
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