$ON Beat on the cards for On SEMI.

On Semiconductors is a relatively low cap company, which designs and manufactures very specialized chips for many different types of industry including Medical, Automotive, Aerospace and they vast potential of the wireless 5G network. The recent overbought conditions within this sector has created a little weakness in the stock and indicators are short term negative but still on a long term upward trend. A break above $23.70 is a nice level to confirm a long entry.