Nov. 14 at 11:41 PM
$ONC is currently trading at
$365.82, showing a strong upward momentum as indicated by the RSI of 70.81, which suggests it is nearing overbought territory. The price is significantly above the 30-day moving average (MA30) of
$326.85 and the 50-day moving average (MA50) of
$329.9, indicating a bullish trend. However, the high of
$381.5 over the last 60 days presents a potential resistance level.
Given the current metrics, the directional bias is bullish, but caution is warranted due to the elevated RSI. Suggested entry could be around
$360, allowing for a slight pullback. A stop loss should be set at
$350 to manage risk. Target 1 can be set at
$375, near the recent high, and Target 2 at
$380, just below the 60D high.
Monitor price action closely, as a reversal could occur given the RSI level.
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