On Holding AG (ONON) stock rose in its latest intraday trading, as the stock attempts to recover some of its previous losses. This comes within the context of a prevailing short-term corrective downtrend, with continued negative pressure from trading below the 50-day SMA. Additionally, while the Relative Strength Index is showing some bullish signals, it remains deeply in overbought territory relative to price action, indicating weak surrounding momentum.

Therefore we expect the stock to decline in upcoming sessions, as long as resistance at $55.95 holds, targeting the support level at $50.75.

Todays price forecast: Bearish.