Use advanced tools to confirm the Rising Wedge on ON before you trade.
Reversal pattern. Price likely to break downwards.
Bullish continuation if preceding move was up.
Indecision. Widening then narrowing range.
Technical analysis of ON Semiconductor (ON) reveals a significant setup. Currently at $108.51, the asset is showing downward momentum (-1.54%). Algorithmically, a Diamond structure has completed. Volume is average (0.18x avg) with moderate trend strength (10.5). A potential breakout level is identified at $119.1, targeting $170.06 with support near $93.62 (R:R 2.0).
What is your outlook on ON?