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Oncothyreon Inc Stock Getting Overbought (ONTY)

By Market News Video Staff, Tuesday, December 6, 5:13 PM ET
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In trading on Tuesday, shares of Oncothyreon Inc (ONTY) entered into overbought territory, changing hands as high as $8.25 per share. We define overbought territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be overbought if the RSI reading rises above 70. In the case of Oncothyreon Inc, the RSI reading has hit 70.5 by comparison, the RSI reading for the S&P 500 ETF (SPY) is presently 60.1.

Investors could look at ONTY's 70.5 reading as a sign that the recent heavy buying is overdue to take a break, which could bring a pullback in the stock. The chart below shows the one year performance of ONTY shares:

Oncothyreon Inc 1 Year Performance Chart

Looking at the chart above, ONTY's low point in its 52 week range is $2.99 per share, with $11.59 as the 52 week high point that compares with a last trade of $8.16.

ONTY operates in the Biotechnology sector, among companies like Amylin Pharmaceuticals, Inc. (AMLN) which is down about 0.1% today and has a current RSI reading of 51.4. Below is a three month price history chart comparing the stock performance of ONTY, versus AMLN.

ONTY,AMLN Relative Performance Chart


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