The ON Running Surge: The Growth Stock That’s About to Sprint
With Nike rebounding on low expectations, $ONON now stands poised to race ahead with superior technicals and fundamentals.
ON Running ( ONON 0.00%↑ ) is quietly coiling for what looks like its next major move. With fundamentals firing, technical structure aligning, and sentiment turning, the setup is clean across all timeframes. This is a premium growth brand still in its acceleration phase — and the charts suggest it’s about to shift gears again.
TL;DR
Nike’s small earnings beat combined with wrecked sentiment sparked a 10% pre-market swoosh, and ONON 0.00%↑ is next in line. Multi-timeframe technicals show the near completion of a correction and the start of a new impulsive leg. EMAs are coiling, MACD crossed bullish, RSI rebounded, and a growth spur may be underway.
The Nike Effect: Why This Matters for $ONON
This week’s setup was simple:
“Low bar + small beat = explosive move.”
NKE 0.00%↑ sentiment was wrecked. China sales weak, tariffs looming, expectations low. But the bar was so low that a small beat launched the stock 10% pre-market.
For ON, a different mechanic is in play. Stronger charts, better growth, and cleaner structure.
Fundamentals: Still a Premium Growth Story
Revenue: Still growing 20–25% YoY
Margins: Holding at 60% gross margins
Valuation: ~5x EV/Sales — not cheap, but justified by growth
Story: Expanding product line + premium brand + global runway
Nike tie-in: ON is everything Nike investors wish Nike was right now: lean, fast-growing, and premium
This is a long-term compounder still in its acceleration phase.
Technical Breakdown
Elliott Wave
The charts are signaling the completion or near-completion of wave (4) implying a short-term corrective movement down to the $45 to $48 range.
Wave (5) should be overlapping, with early impulsive micro-structure forming on intraday charts
Longer-term charts seem to be at the tail end of a c-wave, hitting lower-end Fibonacci levels, giving it room to grow forward. This cycle could potentially stretch into levels above $70
EMA Structure
EMAs on short-term charts are coiling — signal compression before expansion
Price now hovering around 9EMA/20EMA cluster near $52
200EMA on 1D near $49 — strong support and ideal stop level
MACD Momentum
1D and 4H MACD crossed from oversold territory
Histogram flipping positive on daily and weekly
Short-term frames confirm near-term strength
RSI Reversal
Daily RSI bounced from ~38 to >50
Weekly RSI neutral, giving it room to run
Short-term pierced 70, confirming early breakout strength
Trade Plan
Entry Zone: $51.50 – $52.50
Stop Loss: $48.00 - $48.50
Targets
Target 1: $56.00 (short-term Fib target)
Target 2: $67.50 (daily 1.618 Fib)
To Conclude
$ONON is in the last phase of a corrective pullback and looks ready to fly. The $NKE reaction confirms sector appetite, leaving this company as a highly attractive buy target. This is a high-probability continuation setup with strong fundamental backing and full technical alignment.
We're in.
The information in this post is for educational and informational purposes only. It reflects the author’s personal research and analysis, which may be subject to error or omission. This is not financial, investment, or trading advice. Always conduct your own due diligence and consult with a qualified financial advisor before making any investment or trading decisions.