ON's close below the trend line after a 7.58% rise is negative for the short term; it must break above the trend line to support bullish sentiment.

Okay, now we move on to some of today's winners on "ON". As you can see here, it rose by 7.58%. But guys, it slipped and sold out completely all the way to the bottom of the chart today.

At the beginning of the day, this looked great. If you look here, we will find that the price is not only within a parallel descending range, but I have a descending trend line coming back from the lows of April 2025.

I have extended it and linked it to the next major pivot point on the 27th of March of this year.

You can clearly see that when the price dropped to this level , bounced back, and then stopped before it went down again. So, what's going on and what are we going to discuss in this show, guys?

Collapse, decline, it should be a disappearance, shouldn't it? But we jumped above the level at which it should have faded away. However, at the end of the day we found ourselves back below that trend line .

Not good , at least in the short term, for positive news.

He made a try. Therefore, if he manages to make another attempt, it will weaken this level of resistance. If he can make another attempt, he will weaken it until he can eventually break above the trend line, with the next stop being the 50% zone of this parallel channel here at $35.

This is also consistent with the lower range of these pivot points and the consolidation that occurred in June and July. So, keep a close eye on things in the coming days. $29.85.

This upward or downward trend line must be crossed. This will help to unleash more bullish sentiment, even though it has already risen by seven and a half percent.

This closing was not the most pronounced or positive on this chart. You want to see the price rise above the trend line and then start accumulating days on top of each other in an upward direction.

This is the kind of bullish breakout we want to see, not a breakout where the day ends below the trend line. One needs to break through again.