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 Insiders Love Right Now
Three-Month Average Volume: 191,298
Volume % Change: 201% >>5 Stocks Set to Soar on Bullish Earnings From a technical perspective, ONTX exploded higher here with strong upside volume. This move for ONTX is coming off oversold territory, since the stock recent saw its relative strength index reading dip below 30 when it hit $11.73 a share. Market players should now look for a continued bounce higher off oversold levels, since this stock has dropped sharply during the last two months from $31.13 to that $11.73 low. Traders should now look for long-biased trades in ONTX as long as it's trending above $14 or above Wednesday's low of $13.15, and then once it sustains a move or close above Wednesday's high of $15.40 with volume that's near or above 191,298 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 $16.91 to $18.66. Any high-volume move above those levels will then give ONTX a chance to tag its 50-day moving average of $20.53.