Tuesday, October 14, 2014 4:50:12 PM
Its hard to imagine ONCS falling below 36......
but I believed it would hold 41 last week, so the picture I saw is being stretched below my forecast from last week. ONCS is not showing the bullish bounce momentum at 41 like I thought it would. so it suggests maybe we could see a retest of 36...and Woe Unto Thee should the 36 support break down...... where will it fall to ....
The technical chart pattern ,in the downwave from past few weeks was set up to see 41 support Hold .....and try to rally back up at least to the 52-56 resistance zone....but NO.... it fell down below 41 and now it resets the chart picture somewhat, adding uncertainty, erasing some bullish momentum that 41 was promising...,and is looking now at a double bottom at 36 as possible.
I can afford to watch and wait to see what ridiculous bottom happens from here. but as I said, IF I didnt own any, or own enough, I would be happy to buy below 40 cents.
This lower target getting hit at 38, adds force to the resistance zone above at 56 area.... another small headache to deal with in the next rally.
I saw the chart pattern some weeks ago possibly developing a Range Zone, pattern, that could zig zag in long waves from 40 area to 80 area back and forth. or from 36 to 72 back and forth.
who knows.
sometimes all you can see is a bottom looking zone and a top looking zone, and a blob in the middle.
Its technically a buy target at 36 area,as was 41 area. and a technical sell area at 72-80 resistance.... theres resistance starting around 48 and 50 area now, then 56, 65 ...lots of stair steps to climb the hill.
I'm disappointed that 41 did not hold.
In that big downwave that bottomed at 36 weeks ago.... the bounce of that, showed good looking form holding strong at 38 area.and went on to target 65. Now we get to see how strong that 38 cent will demonstrate.once again... or not.
IF it collapses and falls to something like 32,I'll buy more and I will likely sell those trading shares at the 56 resistance zone,to keep it in balance.
http://stockcharts.com/c-sc/sc?s=ONCS&p=W&yr=0&mn=8&dy=0&i=t04336614787&r=1413320031801
looking at this weekly chart, it possible that this weeks drop to 38 cents is ok...as a subwave 7,means that last week (subwave 5) is extending into subwave 7, and might stop here...this kind of wave pattern happens all the time. it might be ok. holding here.
http://stockcharts.com/c-sc/sc?s=ONCS&p=W&yr=2&mn=0&dy=0&i=t15890575995&r=1413320139979
but there is a very old line running along 32 cents.
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