ON Semiconductor on the way to new Highs?

Semiconductor industry group has been hit hard in the past few weeks. We might have seen the bottom.

I picked ON Semiconductor, because of strong fundamentals, and a break out above the .618 Fib.

On Semiconductor formed a nice Saucer Bottom, and flipped both the AVWAP form ATH and the .618 from Resistance to Support.

Furthermore, it held relatively strong throughout the brutal downturn, during the past weeks.