This is a clinical-stage biopharmaceutical company, which is focused on the development of therapeutic products for the treatment of cancer. This stock is trading up 7.5% to $4.32 in recent trading.
Today's Range: $4.00-$4.36
52-Week Range: $3.35-$9.23Volume: 831,000 Three-Month Average Volume: 493,321 From a technical perspective, ONTY is bouncing sharply higher here right above some near-term support at $3.88 with above-average volume. This stock has been downtrending badly for the last two months, with shares falling from a high of $6.24 to its recent low of $3.88. During that move, shares of ONTY have been mostly making lower highs and lower lows, which is bearish technical price action. That said, shares of ONTY have started to bounce off that $3.88 low today and off of extremely oversold condition. Coming into today, ONTY was showing a relative strength index (RSI) reading of below 30. Traders should now look for long-biased trades in ONTY as long as it's trending above $3.88 with strong upside volume flows. I would consider any upside volume day that registers near or above its three-month average volume of 493,321 shares as bullish. If ONTY can maintain that trend, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at its 200-day of $4.68 to its 50-day at $4.86. Any high-volume move above those levels will then put $5.34 to $5.58 into focus for shares of ONTY. To see more stocks that are making notable moves higher today, check out the Stocks Under $10 Moving Higher portfolio on Stockpickr. -- Written by Roberto Pedone in Winderemere, Fla.
Twitter and become a fan on Facebook. At the time of publication, author had no positions in stocks mentioned. Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including CNBC.com and Forbes.com. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.
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