ON Semiconductor Enters Oversold Territory with RSI at 29

ON Semiconductor Corp's stock shows weakness with its RSI at 29, indicating oversold conditions. This could motivate bullish investors to consider buying opportunities as the stock appears to be stabilizing after heavy selling.

Date: 01-02-2025

AI Rating: 6

Relative Strength Index (RSI)
The analysis indicates that ON Semiconductor Corp (Symbol: ON) has an RSI reading of 29.0, which signifies that the stock is in oversold territory. An RSI below 30 typically suggests that a stock may be oversold, and this could lead to potential buying opportunities for investors looking for entry points as the selling momentum may be exhausting.

Stock Performance
The report provides information on ON's trading range, highlighting the 52-week low at $51.81 and the high at $85.16, with a recent trade at $52.30. The current price is near the lower bound of the recent trading range, which is critical for gauging whether the stock may experience a rebound in the near future.

Given that ON has hit an RSI reading of 29.0 and is compared to the S&P 500 ETF's (SPY) RSI of 52.0, this difference may attract the attention of bullish investors. The underlying sentiment among these investors could be that the stock is poised for a turnaround, making it potentially appealing for purchase.

Stocks: ON