To The Moon

The stock market has gotten off to an interesting start this year. I took some time off studying charts the past 2-3 weeks or so, but have gotten back into it recently. I’ve decided to just rename the series as #TBI2025 because I think it sounds a lot cooler.

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Without further ado, here’s the first newsletter for the year:

On Holding AG (NYSE: ONON)

Since bottoming in Oct’22, ONON has been in an uptrend with higher highs and lows. It recently retested the Nov’21 ATH at 55.87 from above, and is now basing over this level. Some bearish divergence has shown up on both RSI and the Stochastic. I am a bit wary of divergences as they have recently been playing out on the indices.

Interestingly enough, since IPO, ONON’s RSI has not been able to sustain itself above extreme overbought levels for very long. This is usually why short-term upside is capped, as sellers might actively be selling extreme overbought levels and buying extreme oversold levels. Once ONON is able to sustain itself above extreme overbought levels, then it will most likely see the next leg higher. Otherwise, if it cracks back below extreme overbought levels, reversion lower is more likely.

ONON’s range for each leg higher has been tightening, indicative of compression. Each break of the resistance trendline (in blue) has resolved higher thus far while holding the Aug’24 support trendline.

A breakout higher could potentially lead to move back towards the red resistance trendline, and eventually towards the 2.618 Fib extension at 72.09 and the 3.618 Fib extension at 93.73 (assuming 0 Fib at 15.44 ATL and 1 Fib at 37.08), while a breakdown of trend could lead towards the prior resistance turned support at 52 and the 1.618 Fib extension at 50.45.

ONON’s rise has mirrored the rise of companies such as Abercrombie and Fitch (NYSE: ANF) and Ralph Lauren Corporation (NYSE: RL). Could it continue to rise in 2025? Let's find out together!

$On Holding AG(ONON)$ $Deckers Outdoor(DECK)$ $Abercrombie & Fitch(ANF)$ $Ralph Lauren(RL)$ $SPDR S&P 500 ETF Trust(SPY)$ $Apple(AAPL)$ $Invesco QQQ(QQQ)$

@TigerWire @TigerStars @TigerEvents @CaptainTiger @MillionaireTiger