A sell side firm likes ON Semiconductor (ON) ahead of their quarterly results. Let's check out the charts and indicators to see if this positive view is warranted.
In this daily bar chart of ON, below, we can see several dips towards $50 since January. Prices made a slight new low recently but it did not precipitate a new decline as of this writing. Prices have bounced slightly but remain below the declining 50-day moving average line and below the cresting 200-day moving average line.