ON Semiconductor on the way to new Highs? Semiconductor industry group has been hit hard in the past few weeks. We might have seen the bottom.
I picked ON Semiconductor, because of strong fundamentals, and a break out above the .618 Fib.
On Semiconductor formed a nice Saucer Bottom, and flipped both the AVWAP form ATH and the .618 from Resistance to Support.
Furthermore, it held relatively strong throughout the brutal downturn, during the past weeks.
