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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.