ON Semiconductor Corporation (ON) “On a long-term technical basis, the stock (ON) is trading above its 200-day moving average which generally implies it is in a positive trend.

The stock has support at 23.12 and 21.73. If the stock breaks down through support at 23.12 then it will probably continue lower to 21.73. The stock will meet resistance at 26.06 and 28.90. If the stock breaks up through resistance at 26.06 then it will probably continue higher to 28.90. The 200-day moving average is at 19.30. This will also act as support. The stock is extremely overbought according to the Stochastic Indicator (83.31).”

ON Semiconductor Corporation (ON) “On a long-term technical basis, the stock (ON) is trading below its 200-day moving average which implies it is in a negative trend.

The stock has support at 19.65 and 18.50. If the stock breaks down through support at 19.65 then it will probably continue lower to 18.50. The stock has resistance at 20.44 and 21.86. If the stock breaks up through resistance at 20.44 then it will probably continue higher to 21.86. The 200-day moving average is at 20.66. This will also act as resistance. The stock’s long-term uptrend has changed into a sideways or downtrend. In this case, the stock will either go sideways for a while or sell-off back to where it started prior to the latest big upmove. This is a risky time for the stock, so be careful. Use caution during times like these, as the stock will be more volatile. Pay close attention to the Short-Term and Daily Opinion. The stock is extremely oversold according to the Stochastic Indicator (19.85).”