VectorVest has ONP as on ongoing buy. Noticed it dropped to the 50dma and I managed to nab some at 2.65. I wouldn't have even looked at ONP if it didn't have the fundamentals.
There has all along been strong accumulation or accumulation at least matching distribution, even with this downturn. I suspect a weak minority of shareholdings in combination with triggered stops is dumping but with their sells being filled mostly at the ask. That's a bullish indication. Looks like support at 1.20.
Possibly just a cascade of stops taken out? Takes one opportunist to get the dominos going.
I did notice that the bid size was consistently in the thousands while the ask stayed mostly in the hundreds.
*ahem* ! ...
50% chance it will go to 2.60, but the usual expectations for HTFs (or "bull flags" as some call them) may not hold for low-price stocks like this. All things being equal, once it breaks above 1.79 I'd say 2.30 is a good target. The company's fundamentals could add a nice boost.
One complication: This is a bull flag atop another bull flag -- the one that formed across the month of June. : /