ONCO Technical Analysis - ONCONETIX INC

Technical Rating and Analysis

Overall ONCO gets a technical rating of 2 out of 10. Recently some decent action could be observed, but in the medium term time frame this is still negative. ONCO was also a bad performer in the overall market in the last year.

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.

When comparing the yearly performance of all stocks, ONCO is a bad performer in the overall market: 99% of all stocks are doing better.

ONCO is one of the lesser performing stocks in the Biotechnology industry. 87% of 536 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.

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.

In the last month ONCO has a been trading in the 2.45 - 3.90 range, which is quite wide. It is currently trading near the high of this range.

Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

The technical rating of ONCO is bad and it also does not present a quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

2.70

3.86

When analyzing the support we can see 3 important areas.

A support zone ranging from 3.04 to 3.04. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
Support @2.97 from a horizontal line in the daily time frame.
Support @2.73 from a horizontal line in the daily time frame.

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Technical Indicator Signal Analysis

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	1.99	NEGATIVE	ONCO has a low relative strength, it was outperformed by 98.01% 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)	UP	POSITIVE	The current price of ONCO is above the rising 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)	66.54	NEUTRAL	The RSI value for ONCO is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.06	POSITIVE	The MACD value suggests ONCO has a positive trend.
Stochastics (14,3)	72.56	NEUTRAL	The Stochastics value for ONCO is a neutral value.
Average True Range in percent/ATR (20)	8.39	HIGH VOLATILITY	The high ATR as a percentage value for ONCO suggests high volalility.
Average Directional Index/ADX (14)	28.04	POSITIVE	The high ADX value value for ONCO suggests a strong trend.