0KC4 trade ideas
$ONIf daily closes up fibo 3.618 can target fibo 4.236.
But i draw my first scenario.
* The purpose of my graphic drawings is purely educational.
* None of what i write here is not an investment advice. Please do your own research before investing in any asset.
* Never take my personal opinions as investment advice, you may lose your money.
On Semiconductor USASun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series
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On Semi Missed the Bear Market MemoMany technology stocks have been in a bear market since last fall, but On Semiconductor seems to have missed the memo.
Notice how the maker of automotive chips barely fell below its 200-day simple moving average (SMA) in April and May. That’s a potential sign of relative strength when you consider that the Nasdaq-100 and Philadelphia Semiconductor Index were about 30 percent off their highs.
Second is the bullish gap from November 1. ON tested and successfully bounced at this zone around $51.33 in late January, late April and early May. That suggests new support has been established above the previous highs.
Third is the mid-May high around $59. Prices held that level last week. Has old resistance become new support at an even higher point?
Next, MACD has been steadily rising since the beginning of last month.
Finally, Bollinger band width is inching higher after tightening. That could mean prices are getting ready to expand again.
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ON Semiconductor on the way to new Highs? Semiconductor industry group has been hit hard in the past few weeks. We might have seen the bottom.
I picked ON Semiconductor, because of strong fundamentals, and a break out above the .618 Fib.
On Semiconductor formed a nice Saucer Bottom, and flipped both the AVWAP form ATH and the .618 from Resistance to Support.
Furthermore, it held relatively strong throughout the brutal downturn, during the past weeks.
ON - semiconductor play - swingON - semiconductor play
closed at 61.14
Currently in consolidation stage but starting to make progress and moved above key pivot level with volume.
Strong growth quarter over quarter and increasing EPS with RS of 92
I think this is good swing entry for move towards 63.5 / 65.8 / 98.3 / 70.35 / 71.4 and new highs
$ON Key Levels, Analysis, & Targets $ON Key Levels, Analysis, & Targets
Looking for 21-27% depending on how many targets hit…
——
If you’ve never traded my setups, try it on a small scale 1st.
Buy
1 share at 55
1 share at 45.84
2 shares at 41.86
4 shares at 33.97
(Basically just double position each level down)
Once you see it on a small scale you can scale in your multiplier (x10, x100 etc)
Looking for 21-27% depending on how it plays out.
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ON.NAS_Breakout CPR Trade_LongENTRY: 62.38
SL: 57.68
TP: 67.13
- ADX<20.
- Daily RS +ve
- Daily FFI +ve
- Weekly RS +ve
- Weekly FFI -ve
- Moving averages are aligned pointing upwards.
- Breakout from down trendline today with above average volume.
- Breakout from monthly and yearly CPR today with above average volume.
ON - semiconductor playON - closed at 63.50 - swing
Started swing yesterday - another semiconductor play breaking out from trendline resistance with above-average volume with below-average selling volume previous day - like this setup a lot and looking for a follow-through and move towards ATH and break above
2/27/22 ONON Semiconductor Corporation ( NASDAQ:ON )
Sector: Electronic Technology (Semiconductors)
Market Capitalization: 27.464B
Current Price: $63.50
Breakout price: $65.35
Buy Zone (Top/Bottom Range): $60.30-$55.40
Price Target: $72.00-$73.40(1st)
Estimated Duration to Target: 49-54d
Contract of Interest: $ON 4/14/22 65c
Trade price as of publish date: $4.05/contract
ABC BullishPossible stop under 51. 01 .
There is also a double bottom at C. Unfilled Gap under C and held as support on the last pull back to the downside.
No recommendation.
Short percent is 3.48%. Negative volume is high which is volume on down days.
Keeping and eye on top. This needs to break prior high to avoid an ugly top.
Will ON Breakdown or Retest At USD65.62 ?Disclaimer: This is only my personal analysis/judgement and this analysis could be wrong. Please invest/trade at your own discretion.
Based on the chart, we can see that the price lies above the trendline and also above EMA10,21,50 and 200. This shows that this stock currently moving in an uptrend direction which is a good condition.
This stock already reached an all-time high on 28 Dec 2021 then, the price drop after that (29 Dec 2021-31 Dec 2021). But, it looks like a retracement because the price drop with a low volume and the RSI did not fall steeply and still maintain above 60% level.
So if we want to go long, I suggest that we have to wait the price Re-Test at USD65.62 first and breakout the resistance price USD67.04. Then, we can use a resistance price USD67.04 as our entry signal.
ON: Bullish Flag (30%) Ascending Triangle (77%) OnSemi is a semiconductor company part of the Information technology sector.
Left hand side graph shows a confirmed bullish flag on the daily with a possible total gain of 30% and a price target of 77.98$$.
Right top graph shows the weekly chart with a confirmed ascending triangle and possible gains of 77% for a price target of 76$$.
Both daily and weekly graphs show a similar positive trend and similar price targets.
The information technology sector is shown on the bottom right graph (weekly chart). This time we have price action running within an ascending channel with an obvious uptrend. This reinforces the possible gains for OnSemi. Information technology is carrying stocks within the sector with a pretty good momentum with no end in sight.
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a rational tradeso $ON is without a doubt an amazing company so I'm not betting on it to die
just mean reversion
I have a 12/17 put because just look at it.
overbought, big gap, little support, crazy run, QQQ at the top of it's channel
everyone thinks semi's can't fall with NVDA and QCOM and AMD but just mean reversion is needed with such fast moves
I may buy when it hits $50 (which is my target) because it's great
just a chill trade