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$NXPI: Back above the 200 DMA

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NASDAQ:NXPI   NXP Semiconductors N.V.
NXPI broke above it's downward trend line back in April. Along with the broad pull back in the semiconductor space, NXPI pulled back and successfully re-tested the aforementioned trend line. With NXPI now back above it's 200 DMA (red), RSI on the rise and earnings due after the close on July 27, I expect NXPI to increase to at least the fibonacci 0.618 retracement of $87.06 and possibly the 0.764 retracement of $89.91 (up 7.34%).

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