Chart of the Day: ON Semiconductor (ON)

There is a key resistance level that has formed in the 52-week stock chart of ON Semiconductor (ON)…

ON Semiconductor (ON – Get Rating) is a leading supplier of chips into automotive and industrial markets, with products in analog, discrete, power management, and image sensing. The company is expected to benefit from momentum in image sensors due to the growth in advanced driver-assistance systems for electric vehicles.

Take a look at the 1-year chart of ON below with added notations…

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