ONCONETIX INC (ONCO) Stock Technical Analysis
NASDAQ:ONCO - Nasdaq - US68237Q1040 - Common Stock - Currency: USD
We assign a technical rating of 1 out of 10 to ONCO. ONCO scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
The short term trend is neutral, while the long term trend is still negative. We need to see a little more continued positive action to make this really interesting.
95% of all other stocks performed better in the past year than ONCO.
ONCO is one of the lesser performing stocks in the Biotechnology industry. 71% of 559 stocks in the same industry do better.
ONCO is currently trading near the lower end of its 52 week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.
In the last month ONCO has a been trading in the 0.07 - 0.17 range, which is quite wide. It is currently trading near the lows of this range.
Considerably lower volume is observed in the last couple of days, which is not what you would like to see during a strong up movement.
ONCO has an average volume of 25542900 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Although the technical rating is bad, ONCO does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. There is a support zone below the current price at 0.07, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for ONCO in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
0.07
0.13
When analyzing the support we notice one important area.
- A support zone ranging from 0.07 to 0.07. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
We found 1 important resistance area.
- Resistance @0.13 from a horizontal line in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | DOWN | NEGATIVE | The long term trend for ONCO is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for ONCO is neutral. |
| ChartMill Relative Strength | 5.65 | NEGATIVE | ONCO has a low relative strength, it was outperformed by 94.35% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of ONCO is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of ONCO is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of ONCO is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 51.74 | NEUTRAL | The RSI value for ONCO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | POSITIVE | The MACD value suggests ONCO has a positive trend. |
| Stochastics (14,3) | 44.86 | NEUTRAL | The Stochastics value for ONCO is a neutral value. |
| Average True Range in percent/ATR (20) | 21.45 | HIGH VOLATILITY | The high ATR as a percentage value for ONCO suggests high volalility. |
| Average Directional Index/ADX (14) | 40.86 | POSITIVE | The high ADX value value for ONCO suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
0.0818
+0 (+2.63%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorHealth Care
GICS IndustryBiotechnology
Performance
% Chg2.63%
1 Week7.63%
2 Weeks12.98%
1 Month16.69%
3 Month-36.14%
6 Month-79.65%
12 Month-42.35%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.01
ATR(20)%21.45%
ATR Inc-7.08%
Range Today0.01
ADR(20)0.02
ADR(20)%20.1%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS5.65
Mansfield-9.08
10 Day High0.09
10 Day Low0.07
20 Day High0.17
20 Day Low0.07
52 Week High6.5
52 Week Low0.05
CS1 End0.07
CR1 Start0.13
Volume & EV
DER(3)12.4%
DER(5)-0.1%
Volume21.76M
Volume Incr-77.54%
Vol(5)9.94M
Vol(50)25.54M