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TMCNet:  Oncothyreon Up 6.7%, Shares Break Through Resistance (ONTY)

[January 09, 2013]

Oncothyreon Up 6.7%, Shares Break Through Resistance (ONTY)

Jan 09, 2013 (SmarTrend(R) Spotlight via COMTEX) -- Oncothyreon (NASDAQ:ONTY) is one of today's best performing low-priced stocks, up 6.7% to $2.22 on 1.1x average daily volume. Oncothyreon has traded 2.6 million shares thus far today, vs. average volume of 2.4 million shares per day. The stock has outperformed the Dow (6.7% to the Dow's 0.6%) and outperformed the S&P 500 (6.7% to the S&P's 0.3%) during today's trading.

Oncothyreon Inc. is a biotechnology company that develops therapeutic approaches to cancer management. The Company focuses on the development of synthetic vaccines and strategies for immunotherapy of cancer.

In the past 52 weeks, Oncothyreon share prices have been bracketed by a low of $1.71 and a high of $11.59 and are now at $2.22, 30% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 4.5%.

There is potential upside of 140.3% for shares of Oncothyreon based on a current price of $2.22 and an average consensus analyst price target of $5.33. The stock should run into initial resistance at its 50-day moving average (MA) of $3.96 and subsequent resistance at its 200-day MA of $4.37.

SmarTrend recommended that its subscribers protect gains by selling shares of Oncothyreon on November 13th, 2012 by issuing a Downtrend alert when the shares were trading at $4.60. Since that call, shares of Oncothyreon have fallen 54.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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