The Hourly View for ON
At the time of this writing, ON (Get Ratings)’s price is up $0.65 (1.8%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as ON has now gone down 4 of the past 5 hours. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. Regarding moving averages, it should first be noted that price has crossed the 50 hour moving average, resulting in them so that price is now turning above it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
Out of Electronic Equipment stocks, ON ranks 98th in regards to today’s price percentage change.
ON’s Technical Outlook on the Daily Chart
At the time of this writing, ON’s price is down $-0.7 (-1.87%) from the day prior. This move is a reversal from the day prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe. Of note is that the 50 day changed directions on ON; it is now pointing down. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. On Semiconductor Corp’s price action over the past 90 days can be seen via the chart below.
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The post On Semiconductor Corp (ON): Price Now Near $36.78; Daily Chart Shows An Uptrend on 100 Day Basis appeared first on ETF Daily News.
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