Trading Options with an Edge
Select Page

Automotive Chipmaker Sets Up for Strong Breakout

Automotive Chipmaker Sets Up for Strong Breakout

by | Nov 29, 2021 | Chart SetUps

NXP Semi (NXPI) has always been a preferred Semi and has a lot of exposure to Automotive where the supply chain issues have weighed but with recent comments suggesting it is starting to ease shares look poised to make a run. NXPI has a bull flag after a strong accumulation phase and sits just under its August highs, this pattern measures to an upside target of $265 while Fibonacci extension levels are at $246.65 and $257.55.