$ONTX (Onconova Therapeutics) Triple Bottom

ONTX             Triple Bottom with increasing volume . I'm looking to be moderately conservative on this buy; the 38.2% Fibonacci level will act as a nice price target for this bullish play.

Viewing this chart, one can see that ONTX             has been unable to sustain its gains above the 50% fibline, so you may be able to sell at that point, but as a low float stock anything can happen - it's better to be cautious and take gains in my opinion.

Thank you for viewing my analysis on ONTX! Please like or follow if you like my analyses, or if you have any questions you can contact me anytime.
$ONTX I am not a big fan of triple bottoms but with such a huge daily accumulation & a convincing close on Friday I would bet on a breakout. Divergences very positive so something is cooking there.
+1 Reply
WingedFury pjablonowski
I strongly agree. Since the company has ended the dilution of their shares, accumulation and buying volume has been quite substantial. Personally, I think that this is coiling up for a bigger move then what I have charted here, I just don't want to mislead anyone. Appreciate the feedback!
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