Here is my analysis on ONCS:
- Price is under $6.00
- Avg. Volume over 250k
- MFI under 20
- Reversal Candle present (Doji)
See what I see:
First, the MFI on this thing plays out perfectly on both oversold and overbought areas as shown in the chart. Let me break that down:
A: MFI overbought it comes down.
B. MFI oversold it moves up
C. MFI overbought again and price drops.
D. Present day. MFI oversold.
MFI isn't the only thing I look at. Do you see the support line? This line is holding fairly well which is great for us when trying to capture a quick in and out. Also, as mentioned above our closing candle is a Doji which means the sentiment is changing and buyers are entering the price action again.
Here's the intra-day movement for the last week:
Entry: $0.59 - $0.60 Price Target: $0.62 - $0.63