RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of ONTX
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On Wednesday, Onconova Therapeutics stock price gained an impressive 7.78%
(Updated on Mar 27, 2024)

Buy or Hold candidate since Feb 26, 2024 Gain 29.37% PDF

The Onconova Therapeutics stock price gained 7.78% on the last trading day (Wednesday, 27th Mar 2024), rising from $0.90 to $0.97. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 6.52% from a day low at $0.92 to a day high of $0.98. The price has risen in 7 of the last 10 days and is up by 4.29% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 55 thousand more shares were traded than the day before. In total, 161 thousand shares were bought and sold for approximately $156.21 thousand.

The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 28.48% during the next 3 months and, with a 90% probability hold a price between $1.09 and $1.29 at the end of this 3-month period.

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ONTX Signals & Forecast

The Onconova Therapeutics stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.87 and $0.81. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 19, 2024, and so far it has risen 17.58%. Further rise is indicated until a new top pivot has been found. Onconova Therapeutics has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Onconova Therapeutics stock

Onconova Therapeutics finds support from accumulated volume at $0.96 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0600 between high and low, or 6.52%. For the last week, the stock has had daily average volatility of 5.45%.

Since the Onconova Therapeutics has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: $0.93 (-3.88%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)

Trading Expectations (ONTX) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect Onconova Therapeutics to open at $0.96, and during the day (based on 14 day Average True Range), to move between $0.91 and $1.03, which gives a possible trading interval of +/-$0.0623 (+/-6.42%) up or down from last closing price. If Onconova Therapeutics takes out the full calculated possible swing range there will be an estimated 12.84% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $0.96, some $0.0145 (1.49%) from the current price of $0.97, our system finds the risk reward attractive.

Is Onconova Therapeutics stock A Buy?

Onconova Therapeutics holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 6.354 Strong Buy Candidate Upgraded

Predicted Opening Price for Onconova Therapeutics of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
$0.96 ( 1.37%) $0.97

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for ONTX

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 1.02 4.81 %
R2 0.99 2.45 %
R1 0.98 0.99 %
Current price: 0.97
Support S1 0.93 -3.74 %
S2 0.92 -5.20 %
S3 0.90 -7.56 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0 .
R2 0 .
R1 0 .
Current price 0.97
Support S1 0.96 -1.49%
S2 0.93 -4.12%
S3 0.750 -22.70%

FAQ

What is the symbol for Onconova Therapeutics Stock and on which exchange is it traded?
The symbol for Onconova Therapeutics is ONTX and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Onconova Therapeutics Stock?
Onconova Therapeutics holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

How to buy Onconova Therapeutics Stock?
Onconova Therapeutics Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Onconova Therapeutics Stock.

What's the current price of Onconova Therapeutics Stock?
As of the end of day on the 2024-03-27, the price of an Onconova Therapeutics (ONTX) share was $0.97.

What is the 52-week high and low for Onconova Therapeutics Stock?
The 52-week high for Onconova Therapeutics Stock is $1.45 and the 52-week low is $0.551.

What is the market capitalization of Onconova Therapeutics Stock?
As of the 2024-03-27, the market capitalization of Onconova Therapeutics is 18.903M.

When is the next earnings date for Onconova Therapeutics?
The upcoming earnings date for Onconova Therapeutics is Mar 28, 2024.
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About Onconova Therapeutics

Onconova Therapeutics Onconova Therapeutics, Inc., a clinical-stage biopharmaceutical company, focuses on discovering and developing novel products to treat cancer. It has two clinical-stage programs, including narazaciclib (ON 123300), a multi-targeted kinase inhibitor that is in Phase I study for solid tumors, as well as hematological malignancies as a single agent or in combination with other anti-cancer therapies; and oral rigosertib alone or in combination with P... ONTX Profile

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