Dec. 21 at 2:49 AM
$ON is coiled at the
$55–
$57 macro resistance zone. Momentum is rebuilding (+20% in the last month) following a new GaN power partnership with GlobalFoundries and operational improvements from their "Fab Right" initiative.
Bull Levels: Break
$55.36 to confirm the ascending triangle; target
$57.13 and then the macro
$60+ zone. Bear Levels: Must hold
$53.10; a loss of this pivot likely triggers a retest of the
$51.09 volume floor.
Technical Extra: RSI (14) is currently neutral-to-bullish, leaving room for an extension toward the monthly target before becoming overbought.
#hovdid