ON Semiconductor could regain its upward trend after having ran out of steam.

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.