Aug. 2 at 5:08 PM
Reading the
$NXPI daily chart, levels only.
Last close
$229.16, down 6.5% on the session, below both the 20 day (
$270.32) and the 50 day (
$290.95) averages, with the 20 day under the 50 day, the textbook shape of a downtrend. RSI reads 29, oversold territory. The 3 month range runs
$229.06 to
$339.95, and the close sits 32.6% off that high. Over the last 10 sessions, 66% of the volume traded on down days, so the selling had the participation.
Why the averages matter: they are the market's short and medium term memory. Trends get graded by whether price holds above them, pullbacks that stop at a rising average are routine, and closes below both is how trends usually end.
The options tape adds context Friday:
$521K in notable NXPI premium, 100% bullish.
