NXPI at a Crucial Support: A 60% Upside Potential?

📉 Current Price: $210
📊 Technical Outlook:

NXPI is testing a strong trendline support. The stock is currently hovering around the 200-Week Moving Average, which has acted as a dynamic support level in past corrections.
Additionally, it is at the 61.8% Fibonacci retracement level from the previous high, a crucial level often associated with reversals.
The MACD indicator is in oversold territory, signaling a potential trend reversal.
🔮 Bullish Scenario:

If this support holds, we could see a bounce towards $340, aligning with the upper trend channel resistance and previous highs.
This move would represent an impressive 60% upside from the current levels.
🚨 Risk Management:

A breakdown below $195 (trendline & 61.8% Fib failure) could invalidate this setup, leading to further downside toward $167 (78.6% Fib level).
💡 Final Thought:
NXPI is at a decision point. A strong rebound could offer a great risk-reward opportunity for long-term investors. 📈

Do you think NXPI will hold this support and rally? Comment below! 🔥