$ON Back to the trading range?
ON bounced off the daily 8 EMA last week, but it's in a bull-flag formation at the moment. I would like to see a stronger decline in volume in the next few days, for ON to go back down to the range it had been trading for a month, in order to cool off indicators before ER and get ready for a move higher. This bull flag could be breaking out any day, but so far indicators show a little bit of cooling off before that happens. Anything below the trading range on the chart, should be a change of trend to the downside.
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