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ON Semi (ONNN) Downgrade Alert, Watch for 12.6% Technical Downtrend Continuation - 11/3/2009 8:45:34 AM

By Chip Brian, SmarTrend Analytics Team
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ON Semi (NASDAQ:ONNN) downgraded to Underweight at Morgan Stanley. The stock closed yesterday at $6.59 on volume of 12,883,618 shares, above average daily volume of 0.

ON Semiconductor is currently below its 50-day moving average of $7.98 and should find support at its 200-day moving average of $6.21.

SmarTrend is bearish on shares of ONNN and our subscribers received a Downtrend alert on October 02, 2009 at $7.54, which has returned 12.6% to date.

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