@moneypenny,....the technical picture I'm seeing these days is looking about the same as it has for a while. trying to establish a base bottom zone,that for the moment looks to have bottomed at the 36 -38 zone... after a while it starts to look solid enough.
(Folks, please excuse my long winded commentary ,if I repeated anything,I'm too tired today to edit it ....)
Now , this small rally movement from the 36 bottom zone in recent weeks has found first resistance at a predictable point around 46 cents....and now is settling in between at the key 41-43-46 area,as the next stair step to try holding.... above is the real resistance targets marked by the key moving averages and trend line flow,that used to be 56-58 area but now slid down to start around 50-52.(the 50 ma)
I expect we will see the next rally pop hit the 50-52-56 area and meet resistance there. and will be interesting to see what kind of strength the resistance selling has at 52-56 ,when the time comes.
I woke up this morning thinking, that alot of the price action in all stocks these recent weeks has been following technical patterns, but at some point really wants to move upon fundamental news, you can easily get lulled to sleep watching the technical price action, and easily forget that WHEN important news strikes, the technical movement will just fly out the window. My latest posts about ONCS and following all the technical price action ,and seeing the moving averages at 56 and 52 ,now at 50, etc etc.... ...I'm here now describing all the same technical picture....and all that has to happen when I blink my tired eyes, is for some big news to pop and ONCS could just blast through the 50-55 zone and hit 72 , shattering all of that TA....and catch me by surprize, because I dont pay enough attention to the fundamental news. Thats my shortcoming. I dont know what the fundamental news is anticipating...If you see some good fundamental news waiting to happen soon..... the technical chart is in a place where it has so far made a decent bottom at 36, and is trying to work its way back to the resistance targets at 50-56, and if it just keeps going slowly like this, without news, then it will likely stop rising when it hits the 52-56 area, fall back to 43-46 support,and then put us to sleep again as it hangs around like its been doing.... like its waiting for the big fundamental news.
There really arent any more technical insights in the chart ,any different from recent weeks, other than the fact price has failed to retest the 36 bottom zone. A week or two ago I was thinking it would fall again and retest 36, maybe even lower. But it held strong so far.(a good sign) and looks like the 43 zone wants to hold now.The Candlesticks at the bottom zone are showing that the 36/38 area was rejected...and price wanted to get back up into the 40's..... a bullish indication. and shows that 36 and 38 were extremes/overshoots.so it lends credence to the idea that the Key 41-43 cent zone is where ONCS wants to call a support bottom zone. and a double from there would target the 80 cent zone.
It looks like its not being short attacked here at 43, but the 46 resistance is still happening.
From the bottom zone at 36, the subwave structure having made a base around 37/38 , and this small rally has made 4 subwaves so far, the recent days of sliding sideways is a "wave 4" and the next rally pop should meet the resistance at 48-50-52 and struggle there , as an ending point.... Thats ok to see, But the real critical thing is what happens after this next pop to 50, or whatever resistance point it stops at...48/50/52/56/ whatever....The most critical moment will be watching the sell down /pullback that comes after this next pop. because the next pop , technically speaking, represents the completion of a rally wave. its marked by the bollinger band and the 50 ma,etc....and the first rally off the 36 bottom is important, the first big Pullback after that becomes important. sorry for being so long winded describing it , but its worth seeing clearly here. as you follow the wave patterns....the chart starts to come together in the picture, ,as you see the 50 moving average looking like its calling for price to go there. but it will act for the short attackers like an alarm bell, where they will be like a spider waiting to pounce on it.There will be a sharp bounce down probably. and so when that happens, that 41-43 cent support level needs to become a magic line like it used to be. like it is preparing to be now. So This place here, between 40 and 50 cents, where price is just putting us to sleep....is actually a very important zone, to watch , in this way, as the top and bottom levels get tested. will show who is going to win the current battle. A bullish win, by holding the next pullback at 41-43 area, could propel ONCS in a bigger rally into the 70's and higher. and if it comes upon well timed news, not right now....but in several days, as the next pullback hits down again at the 41-43 area..... if this jumble of wordy description still makes sense..... you can visualize now, what next weeks price action could do. and I'm sure that every company has somewhere in its technical trading desk, analysts who watch price action this way, so they can tell management when the timing is ripe to release the next good news.
IF the technical chart pattern can describe this timing like this, ....watch in coming days, for one or two more pops, into the 50 cent-52 zone....followed by resistance and selling back down to retest the 43-41 zone..... followed by the timing of news release.... followed by a big rally .maybe the 'news' will just be a seeking alpha article pump, or a Patrick Cox newsletter pump, or something like that, but the timing will likely be available after these next wave patterns finish baking the current cake.
IF this all plays out like this, then a big rally from 41 cent zone, could double to 80, as a target, but might hit resistance at 70 first.
So something bullish in the next wave of price action...which might be something like....a move up to test the 49-50-52-58 resistance.... Then watch it get whacked down from there....back to the 43-41 support, and Then See IF "fundamental news or promo pumps" come out with good timing , ....and then the price makes a big rally back into the 70-80 area....something like that would be a pattern to anticipate,if it would be bullish price action.
I'm so stupid about fundamental news its like being blind in one eye,so I have to rely on others to post the important news that will break the technical patterns. But a nice article pump could pop the price as well. nothing wrong with that as a rally to trade.
IF the fundamental development is ready to propel ONCS into a stronger dimension, and bring price back into the 80 zone, thats one thing.
But if not....at this time, and the technical price action remains ongoing, then a promo article might offer a rally to trade, into a target zone 60-80 area, and resistance everywhere from 50-60-70-80....that takes price tumbling back down again, to retest 41 zone....and it ends up being a traders movement. to buy 40 and take profit at resistance levels.
Lets see if there are any Promo pumps or fundamental news releases in the coming weeks and what the actual quality is.
and see the weekly chart...showing the 20 ma coming down into the 60 cent area, the 50 ma at 52 cents, and the old left shoulder zone at 56/58 area.... the next rally pop can just hit a wall in that zone and get the sellers attacking from there. this 43 cent support zone will Have to become strong when the next selling storm happens.
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