ONON weekly chart (30.85):
Clear downtrend since the 64 high, with the stock down about 50%. It bounced from the 1.272 Fib extension (26.58), and the last two weekly candles are green.
Resistance: 34.59 (broken support, now resistance), then 40–46.
Support: 26.58, then 20–24, then 16.38.
Take: An early bounce, not a confirmed reversal. Confirmation needs a weekly close above 34.59. Until then, it may just be a correction within the downtrend. Earnings can move it sharply.
Technical analysis only, not financial advice.