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Oncothyreon(ONTY) is a clinical-stage biopharmaceutical company. It develops and markets synthetic vaccines and small molecules that treat the lives and outcomes of cancer patients. This stock is trading up 5% to $2.27 in recent trading.
Today's Range: $2.15-$2.28
52-Week Range: $1.71-$6.24
Three-Month Average Volume: 699,088
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From a technical perspective, ONTY is bouncing higher here right above its 50-day moving average of $2.08 with lighter-than-average volume. This move has started to push shares of ONTY into breakout territory, since the stock has taken out some near-term overhead resistance levels at $2.20 to $2.26. At last check, ONY has hit an intraday high of $2.28, and volume is well below its three-month average action of 699,088 shares. This move is quickly pushing ONTY within range of triggering a major breakout trade. That trade will hit if ONTY manages to take out some near-term overhead resistance levels at $2.34 to $2.42 with high volume.
Traders should now look for long-biased trades in ONTY as long as it's trending above today's low of $2.14 or above $2.26, and then once it sustains a move or close above those breakout levels with volume that hits near or above 699,088 shares. If that breakout triggers soon, then ONTY will set up to re-fill some of its previous gap down zone from last December that started near $5.