ONG rose 109% within 24 hours. This kind of surge looks exciting, but I’d rather watch the ones that have already climbed 30–50% and then pull back without breaking support. With a slope like 109%, if you enter, you’re basically the bagholder to consider.
Right now, the whole second-tier market is operating on fast rotation and momentum that’s never consistent. What’s strong today might not be strong tomorrow. If you follow a chasing-rallies logic, you’ll probably get hit on both sides.
As I usually do, in times like this I look at volume—whether it actually confirms. If the pull-up doesn’t come with sustained volume, I won’t touch it; only when there’s a volume-backed pullback that doesn’t break below the prior low is it worth putting on a watchlist for your own selection. Don’t fool yourself into thinking that because it’s up, a trend has arrived. Most of the time, it’s just money moving to a different spot to play.
Right now, the whole second-tier market is operating on fast rotation and momentum that’s never consistent. What’s strong today might not be strong tomorrow. If you follow a chasing-rallies logic, you’ll probably get hit on both sides.
As I usually do, in times like this I look at volume—whether it actually confirms. If the pull-up doesn’t come with sustained volume, I won’t touch it; only when there’s a volume-backed pullback that doesn’t break below the prior low is it worth putting on a watchlist for your own selection. Don’t fool yourself into thinking that because it’s up, a trend has arrived. Most of the time, it’s just money moving to a different spot to play.