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After Yesterday's Rally of 2.13% Shares Could Potentially Pullback

By James Quinn

On Semiconductor (NASDAQ:ON) traded in a range yesterday that spanned from a low of $25.37 to a high of $25.92. Yesterday, the shares gained 2.1%, which took the trading range above the 3-day high of $25.58 on volume of 2.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of On Semiconductor have traded between a low of $8.11 and a high of $27.10 and are now at $25.86, which is 219% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 0.3%.

SmarTrend recommended that subscribers consider buying shares of On Semiconductor on May 10th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $23.47. Since that recommendation, shares of On Semiconductor have risen 7.8%. 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