NXP Stock Slumps After Chipmaker Issues Soft Outlook—Watch This Key Price Level

Key TakeawaysShares in NXP Semiconductors N.V. slumped ahead of Tuesday’s opening bell after the Dutch-based chipmaker issued a weaker-than-expected current quarter outlook amid a slowdown in spending by automotive customers and rising geopolitical risks.NXP shares have oscillated within a rising wedge over the past twelve months, a chart pattern that typically occurs after an uptrend and signals a potential reversal in a security's price.Looking ahead, investors should monitor the $248 level, an area where ...