If daily closes up fibo 3.618 can target fibo 4.236.
But i draw my first scenario.
* The purpose of my graphic drawings is purely educational.
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* Never take my personal opinions as investment advice, you may lose your money.
This stock was behaving much better than indicies.
Down only 10% from ATH.
Now coming into earnings, giving all signs of strenght.
Every time the market is bouncing, it moves higher.
Earnings history is consistent.
Looking for ATH and higher
ON is looking to go back to ATH, 52 weeks high
On is in the general uptrend
Only 18% down from ATH, which is remarkable for the current bear market.
Seicondactors are recovering.
ON can go even higher than ATH on earnings expectations/good earnigns.
Target 70-80
Many technology stocks have been in a bear market since last fall, but On Semiconductor seems to have missed the memo.
Notice how the maker of automotive chips barely fell below its 200-day simple moving average (SMA) in April and May. That’s a potential sign of relative strength when you consider that the Nasdaq-100 and Philadelphia Semiconductor Index were...
Semiconductor industry group has been hit hard in the past few weeks. We might have seen the bottom.
I picked ON Semiconductor, because of strong fundamentals, and a break out above the .618 Fib.
On Semiconductor formed a nice Saucer Bottom, and flipped both the AVWAP form ATH and the .618 from Resistance to Support.
Furthermore, it held relatively strong...
The PEAD projected a Bullish outlook for $ON after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 85.71%.
ON - semiconductor play
closed at 61.14
Currently in consolidation stage but starting to make progress and moved above key pivot level with volume.
Strong growth quarter over quarter and increasing EPS with RS of 92
I think this is good swing entry for move towards 63.5 / 65.8 / 98.3 / 70.35 / 71.4 and new highs
Waiting For 59.2 to cross this week and close. Then a buy will trigger for a target 68 to 70.
On weekly stock is strong. No major breakdown yet. Stop Loss below box.
$ON Key Levels, Analysis, & Targets
Looking for 21-27% depending on how many targets hit…
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If you’ve never traded my setups, try it on a small scale 1st.
Buy
1 share at 55
1 share at 45.84
2 shares at 41.86
4 shares at 33.97
(Basically just double position each level down)
Once you see it on a small scale you can scale in your multiplier (x10, x100...
Progressive exposure and angle of attack on $ON kept me on the sidelines.
Its pulling back now and possibly setting up a pullback buy. Watching as the setup is now getting better.
$ON 2nd close above its down trend line.
Volume pattern looks strong.
Some leaders in Semi group already broken out. The ones that didn't yet, I think $ON looks better than most other bases.
ON - closed at 63.50 - swing
Started swing yesterday - another semiconductor play breaking out from trendline resistance with above-average volume with below-average selling volume previous day - like this setup a lot and looking for a follow-through and move towards ATH and break above
Possible stop under 51. 01 .
There is also a double bottom at C. Unfilled Gap under C and held as support on the last pull back to the downside.
No recommendation.
Short percent is 3.48%. Negative volume is high which is volume on down days.
Keeping and eye on top. This needs to break prior high to avoid an ugly top.
Disclaimer: This is only my personal analysis/judgement and this analysis could be wrong. Please invest/trade at your own discretion.
Based on the chart, we can see that the price lies above the trendline and also above EMA10,21,50 and 200. This shows that this stock currently moving in an uptrend direction which is a good condition.
This stock already reached...
