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Oncolytics Biotech(ONCY) is a development-stage biopharmaceutical company that focuses on the discovery and development of pharmaceutical products for the treatment of cancers. This stock is trading up 7.5% to $5.45 in recent trading.
Today's Range: $5.11-$5.66
52-Week Range: $3.15-$6.69
Three-Month Average Volume: 79,361
From a technical standpoint, ONCY recently triggered a major breakout trade once the stock cleared some overhead resistance at $4.88 on heavy volume. This move has now pushed ONCY into overbought territory since its relative strength index (RSI) reading is 84.44.
Anything reading on the RSI over 70 is considered overbought. This overbought reading doesn't mean that ONCY can't continue to move higher, but it does mean it's time to be a big more cautious with long trades. The next major overhead resistance level on ONCY is $5.75, so any move over that should put ONCY within range of challenging its
52-week high of $6.69.