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NXP Semiconductors (NXPI) Stock Is Rising; Real Test Is Still 20% Above Current Levels

NEW YORK (TheStreet) -- NXP Semiconductors (NXPI - Get Report) corrected lower this summer, but it is now poised to retest its 52-week highs at $114.

NXPI, in the chart above, looks like it has finished its downside correction and is ready to try the upside once again.

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Prices have rallied back above the 50-day simple moving average and above the stock's September highs. The On-Balance-Volume line is starting to inch higher with the price action, and we can see a bullish divergence between the price action of NXPI and higher momentum readings in September and October.

We would look for a retest of the $114 high in the weeks ahead. A decline below $85 will turn the chart picture back to neutral.

Separately, TheStreet Ratings team rates NXP SEMICONDUCTORS NV as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their...