DELAFIELD, Wis. ( Stockpickr) -- Professional traders running mutual funds and hedge funds don't just look at a stock's price moves; they also track big changes in volume activity. Often when above-average volume moves into an equity, it precedes a large spike in volatility.>>5 Stocks Set to Soar on Bullish Earnings
Three-Month Average Volume: 141,960
Volume % Change: 175% >>5 Rocket Stocks to Buy This Week From a technical perspective, ONTX bounced sharply higher here right above its recent low of $15.12 with above-average volume. This stock has been downtrending badly for the last month, with shares plunging lower from its high of $31.13 to its 52-week low of $15.12. During that drop, shares of ONTX have been consistently making lower highs and lower lows, which is bearish technical price action. That move has now pushed shares of ONTX into oversold territory, since its current relative strength index reading is 26.41. Oversold can always get more oversold, but it's also an area a stock can experience a powerful bounce higher from. Traders should now look for long-biased trades in ONTX as long as it's trending above its 52-week low at $15.12 and then once it sustains a move or close above Monday's high of $16.95 with volume that hits near or above 141,960 shares. If we get that move soon, then ONTX will set up to re-test or possibly take out its next major overhead resistance levels at $20 to $22, or even its 50-day moving average of $24.38.