Oxford Nanopore Shares Extend Rally Into Second Session on Strong Momentum

Shares in Oxford Nanopore Technologies (LON: ONT) are pushing higher for a second consecutive session, building on Wednesday’s earnings-driven jump with a fresh burst of buying that has taken the stock to its highest level in weeks.

Having leapt from around 122p to close at 139.7p on Wednesday after the group’s interim results, ONT shares have continued to climb, trading up more than 9% intraday on Thursday to touch above 152p — taking the cumulative two-session gain to roughly 25%.

Notably, Thursday’s advance has come on markedly heavier volume than usual, with turnover already exceeding 6.7 million shares versus a typical daily average nearer 1-2 million, suggesting the move is being driven by more than just retail momentum chasers and may reflect institutional repositioning or short-covering.

The continuation move is technically significant. The rally has propelled the shares decisively through both the 50-day moving average (around 118.5p) and the longer-term 200-day moving average (around 127.3p) — a bullish crossover pattern that reverses the downtrend that had dominated the stock since its slide from above 200p last summer.

The 14-day RSI, which was already elevated in the high-60s heading into Thursday, looks set to push firmly into overbought territory above 70 on the latest leg higher, a level that has historically preceded short bouts of consolidation in the stock.

Traders will now be watching whether ONT can hold the psychologically important 150p level. A successful hold could open the way toward the next resistance band around 160p-170p, though the overbought RSI reading raises the risk of a near-term pullback or pause for breath before any further advance.