ON Semiconductor Corporation : An opportune reversal
By Florian Girard
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$11.57 | $0 | $11.1 | -100% |
The company enjoys an excellent Surperformance rating which underline its profitability. The consensus average target price is still displaying a +26% potential. Financial forecast are encouraging.
The share keeps an upward trend in the long and in the mid-term. The stock started a consolidation stage a few weeks ago, within the USD 11.5/13.25 range. Weekly moving average are still well oriented. Currently on the lower limit, the security could find a re-boost of buyer flows.
Consequently, investors may open a long position at current prices and target a reversal toward the USD 12.4 resistance. A stop loss order will be set at USD 11.1 to prevent from a further correction.