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Benzinga
222 days

Stock Of The Day: Will On Semiconductor's Meltdown Continue?

1. ON faces excess supply compared to demand, driving prices down. 2. A potential new downtrend for ON is emerging. 3. The $61 level has historically served as a support for ON. 4. Current trading suggests a break below crucial support levels. 5. Previous rallies may not occur if support buyers have exited.

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FAQ

Why Bearish?

Current excess supply may lead to sustained price declines, similar to past trends.

How important is it?

Supply-demand imbalance directly affects ON's price action in the near term.

Why Short Term?

Immediate selling pressure expected, but market may stabilize later.

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