52-Week Range: $1.55-$5.16
Tuesday's Volume: 285,000
Three-Month Average Volume: 804,652 From a technical perspective, ONTY jumped modestly higher here back above its 50-day moving average of $1.87 with lighter-than-average volume. This stock recently formed a triple bottom chart pattern at $1.78, $1.79 and $1.75. Following that bottom, shares of ONTY have started to spike higher and push within range of triggering a near-term breakout trade. That trade will hit if ONTY manages to take out some near-term overhead resistance levels at $1.92 to $1.99 and then $2.16 with high volume. Traders should now look for long-biased trades in ONTY as long as it's trending above some key near-term support at $1.75 and then once it sustains a move or close above those breakout levels with volume that hits near or above 804,652 shares. If that breakout hits soon, then ONTY will set up to re-test or possibly take out its next major overhead resistance levels at $2.43 to $2.70, or even $2.81. Any high-volume move above $2.81 will then give ONTY a chance to re-fill some of its previous gap down zone from late 2012 that started near $5.
52-Week Range: $1.23-$3.00
Thursday's Volume: 3.76 million
Three-Month Average Volume: 2.56 million From a technical perspective, GALE ripped higher here right above its 50-day moving average of $2.18 with above-average volume. This move pushed shares of GALE into breakout territory, since the stock took out some near-term overhead resistance at $2.30. Market players should now look for a continuation move higher in the short-term if GALE can take out some key overhead resistance levels. Traders should now look for long-biased trades in GALE as long as it's trending above its 50-day at $2.18 or its 200-day at $2.13 and then once it sustains a move or close above Tuesday's high at $2.39 to some more resistance at $2.58 with volume that hits near or above 2.56 million shares. If we get that move soon, then GALE will set up to re-test or possibly take out its next major overhead resistance level at its 52-week high of $3 to $3.54. 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 Delafield, Wis.
Twitter and become a fan on Facebook. At the time of publication, author had no positions in stocks mentioned. Roberto Pedone, based out of Delafield, Wis., 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.