Intergroup's 15min chart shows RSI overbought, bearish Marubozu formation.

Based on the 15-minute chart provided by the Intergroup, a technical indicator known as the Relative Strength Index (RSI) has reached an overbought level, accompanied by a bearish Marubozu candlestick pattern. This suggests that the stock price has experienced a rapid increase, which exceeds the underlying fundamentals, indicating a lack of support for the current price level. Furthermore, the sellers are likely to regain control of the market, which may lead to a continuation of the bearish momentum.

Beigene (ONC) has experienced a significant surge in its stock price, with the share price rising by 8.49% to 332.04 on September 2, 2025, marking two consecutive days of gains totaling 11.44%. This strong upward momentum is supported by a series of technical indicators that suggest a sustained bullish trend. According to the latest analysis, Beigene's price action is backed by a confluence of bullish patterns and indicators.

The August 28-29 period formed a piercing line pattern, which is a technical candlestick formation indicating a reversal. This pattern was followed by a decisive breakout on September 2, with a marubozu candle showing minimal wicks and a body spanning 324.02 to 335.94. This marubozu candle indicates strong conviction above the 314.90 resistance level, establishing 335.94 as immediate resistance and 295.22 as major support. The 50-day moving average crossed bullishly above the 100-day moving average in mid-July, confirming a positive medium-term trend. Price remains above both moving averages, indicating sustained bullish control.

The MACD (12,26,9) indicator shows strengthening momentum, with the histogram expanding positively since August 28 and both lines above zero. The KDJ oscillator, while in overbought territory, does not show bearish divergence, aligning with the price uptrend. The Bollinger Bands indicate that the price closed above the upper band on September 2, following a pronounced volatility squeeze in late August. The volume on September 2 doubled the 30-day average, validating the breakout and signaling accumulation. The 14-day RSI reached approximately 76, entering overbought territory, but this is not a cause for immediate concern given the absence of bearish divergence and the trend's strength.

Fibonacci retracement analysis shows that the current price exceeds the 127.2% extension level of the dominant trend from April 3 to June 12. Key retracement supports include 294.92 and 288.69, aligning with the psychological 290-300 support zone. Confluence exists near 300, where the 38.2% Fibonacci level, 20-day moving average, and prior resistance (August 18 high) converge.

In summary, Beigene's (ONC) recent price action is supported by a combination of bullish candlestick patterns, moving average crossovers, MACD expansion, Bollinger Band breakouts, and volume confirmation. While the RSI is in overbought territory, the absence of bearish divergence and the strength of the trend suggest that the current uptrend is likely to continue. However, investors should remain vigilant for signs of near-term consolidation or retracement toward the 300 support zone.

References:
https://www.ainvest.com/news/beigene-surges-8-49-332-04-technicals-signal-sustained-bullish-momentum-2509/