The Long Investor

$ONON - JUST REPORTED -

Added 2025-03-04 11:57:10 +0000 UTC

ER is just out and it is their first beat since May '24 and they beat EPS estimates by a whopping +80% and the market is really liking it so far and up +9% in the PM now which is a very bright spark amongst a confused PM right now for the market.

We can see on the weekly chart here that there was been a pull back to the 0.38 Fib and just above the 50 WMA and now bouncing, any rejection at the blue line or trying to make a higher high and for me this could be only a Wave B bounce and the rest of the handle formation could complete and a pull back to at least the 0.5 Fib at $43.80 is next.

Otherwise, flipping the blue line to support at $56 and there is technically strong upside available, especially if the market decides to melt up.