Chart of the Day: ON Semiconductor (ON)

NASDAQ: ON | ON Semiconductor Corporation News, Ratings, and Charts

ON – ON Semiconductor (ON) has formed resistance at $22. Learn when to hit buy.

Get Free Updates

Join thousands of investors who get the latest news, insights and top rated picks from StockNews.com!

There is a key resistance level that has formed in the 52-week stock chart of ON Semiconductor (ON).

ON Semiconductor is a leading supplier of chips into automotive and industrial markets, with products in analog, discrete, power management, and image sensing. The company is expected to benefit from momentum in image sensors due to the growth in advanced driver-assistance systems for electric vehicles.

Take a look at the 1-year chart of ON below with added notations:

 

 Chart of ON provided by TradingView

ON formed a key level of resistance at $22 when it tested that price a second time in July, as you can see above with the red line.  A close above the $22 level should lead to higher prices for ON.

A long trade could be entered when $22 is surpassed, with the expectation of a breakout.

Keep an eye out on August 10, as ON is expected to report earnings before the market opens.

Want to Discover More Great Trades?

I have explored virtually every flavor of technical analysis and chart pattern known to mankind. The sad fact is that the vast majority of them don’t work at all.

That is why I recently put together this presentation to help investors focus on the only 5 chart patterns that matter…the ones that lead to the most timely and profitable stock trades. Click below to learn these patterns and how to quickly find the 5 to 7 best trades today.

5 WINNING Stock Chart Patterns

Have a good trading day!

Good luck!

Christian Tharp, CMT

@cmtstockcoach


ON shares fell $0.21 (-0.99%) in premarket trading Tuesday. Year-to-date, ON has declined -13.74%, versus a 2.82% rise in the benchmark S&P 500 index during the same period.


About the Author: Christian Tharp, CMT


Christian is an expert stock market coach at the Adam Mesh Trading Group who has mentored more than 4,000 traders and investors. He is a professional technical analyst that is a certified Chartered Market Technician (CMT), which is a designation awarded by the CMT Association. Christian is also the author of the daily online newsletter Todays Big Stock. More...


More Resources for the Stocks in this Article

TickerPOWR RatingIndustry RankRank in Industry
ONGet RatingGet RatingGet Rating

Get Free Updates

Join thousands of investors who get the latest news, insights and top rated picks from StockNews.com!


Most Popular Stories on StockNews.com


:  |  News, Ratings, and Charts

When Does the Next Bull Run Start?

The 5 month rally for stocks (SPY) was too much, too soon calling into question whether it indeed was a bubble. Thus, not surprising stocks are seeing a healthy correction in September. What matters now is determining when to buy this dip for the next bull run ahead. That is the focus of today’s commentary.

:  |  News, Ratings, and Charts

3 High Profit Mining Stocks Under $10

The pandemic driven weakness in the economy, rising geopolitical tensions, a low interest rate environment, and a volatile market are all favorable for gold and silver to be more and more attractive for investors. As a result, stocks of low-priced miners of these precious metals such as Kinross Gold (KGC), B2Gold Corp (BTG) and Silvercorp Metals (SVM) could generate huge returns.

:  |  News, Ratings, and Charts

If Shares of Wynn Resorts Fall Under This Level, Expect a Breakdown

A support level has formed on the chart of Wynn Resorts (WYNN). If the stock breaks down through this level, expect a drop. Learn when to enter a short position.

:  |  News, Ratings, and Charts

4 Tech Stocks DEFYING the NASDAQ’s Weakness

Many stocks in the Nasdaq Composite index are showing weakness over the last couple weeks. But there are a few showing significant strength over the same time period. Here are four that continue to gain based on their business models and earnings expectations: Zoom Video Communications (ZM), Snap (SNAP), Pinterest (PINS), and Digital Turbine (APPS).

:  |  News, Ratings, and Charts

If Shares of Wynn Resorts Fall Under This Level, Expect a Breakdown

A support level has formed on the chart of Wynn Resorts (WYNN). If the stock breaks down through this level, expect a drop. Learn when to enter a short position.

Read More Stories

More ON Semiconductor Corporation (ON) News View All

Event/Date Symbol News Detail Start Price End Price Change POWR Rating
Loading, please wait...
View All ON News