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After Yesterday's Decline of 1.23%, On Semiconductor Offers Investors Better Value

By David Diaz

On Semiconductor (NASDAQ:ON) traded in a range yesterday that spanned from a low of $25.58 to a high of $26.40. Yesterday, the shares fell 1.2%, which took the trading range below the 3-day low of $25.80 on volume of 2.9 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, On Semiconductor share prices have been bracketed by a low of $8.11 and a high of $27.10 and are now at $25.64, 216% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 1.2%.

SmarTrend recommended that subscribers consider buying shares of On Semiconductor on February 20th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $23.26. Since that recommendation, shares of On Semiconductor have risen 11.9%. We continue to monitor ON for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders ON Semiconductor

Ticker(s): ON