NXP Semiconductors receives positive support - Analysis - 10-06-2022

NXP Semiconductors' stock (NXPI) rose in the intraday levels, becoming one of the best performers in the market, and marking a profit of 4.04% in the last session, or 7.15 points, and settling at 184.22, with trading volumes surpassing 10.1 million shares, above 10-day averages of 3.6 million shares after reports that Samsung might acquire the company. 

Technically, the stock is receiving support after leaning on the 50-day SMA, while boosted by a positive pattern that formed in the short term, the Falling Wedge, with positive signals from the RSI after reaching oversold levels compared to the stock's movements. 

Therefore we expect more gains for the stock, targeting the first resistance at 211.83, provided the support of 175.55 holds on.

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Expected trend for today: Bullish