On Holding's premium footwear brand demonstrates strong earnings momentum and wide-moat business quality, but near-term technical weakness from a confirmed downtrend warrants caution before adding new positions.
Thesis pillars
- Moat Quality Profile↑Improving
- Earnings Beat Streak↑Improving
- Analyst Upside Sentiment↓Deteriorating
- +2 more pillars — see the Why tab for full reasoning
On Holding AG (ONON) Stock Analysis
Falling Knife setup · Temporary headwind edge
Consumer Cyclical · Footwear & Accessories
Wait for pullback to $29.46. Weak momentum; also below 200-day MA (death cross) — blocks BUY_NOW at $32.23. Engine's entry $29.46 (support + ATR (held)) is the shallowest technical level that clears the 2:1 A.R:R minimum. Key risks: Negative momentum; Below 200-MA, MA slope -2.4%/30d (confirmed downtrend).
On Holding AG, together with its subsidiaries, develops and distributes performance sports products under the On brand in Switzerland, the rest of Europe, the Middle East, Africa, the United States, the rest of the Americas, and the Asia-Pacific. The company offers athletic... Read more
Wait for pullback to $29.46. Weak momentum; also below 200-day MA (death cross) — blocks BUY_NOW at $32.23. Engine's entry $29.46 (support + ATR (held)) is the shallowest technical level that clears the 2:1 A.R:R minimum. Key risks: Negative momentum; Below 200-MA, MA slope -2.4%/30d (confirmed downtrend). Chart setup: Death cross, below all MAs, RSI 35, MACD bearish. Wide-moat business. Accumulate on weakness. Score 6.0/10, moderate confidence.
Passes 7/9 gates (favorable risk/reward ratio, clean insider activity, no SEC red flags, news boost analyst 0.40, earnings proximity 87d clear, semi cycle peak clear, materials cycle peak clear). Fails on weak momentum and death cross (50MA < 200MA). Suitability: speculative.
Recent developments
updated 2026-08-16Recent Developments — On Holding AG
Latest news
- NEWS On Holding: The Market Mistakes A Marathon For A Sprint (NYSE:ONON) - Seeking Alpha — Seeking Alpha negative
- NEWS William Blair downgrades On Holding AG (ONON) to a Hold - The Globe and Mail — The Globe and Mail negative
- NEWS William Blair downgrades On Holding AG (ONON) to a Hold - theglobeandmail.com — theglobeandmail.com negative
- NEWS On Holding AG Stock 12‑Month Price Target Cut to $45.67, Implies 48% Upside - TradingView — TradingView positive
- NEWS On Holding AG Stock 12‑Month Price Target Cut to $45.67, Implies 48% Upside - tradingview.com — tradingview.com positive
Generated 2026-08-16T18:42:21Z.
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Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Rating Breakdown
1 floor-breaker
Price action weak — below key moving averages, no momentum carry. Needs a base before trend-continuation setups apply.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Wait for pullback to $29.46. Weak momentum; also below 200-day MA (death cross) — blocks BUY_NOW at $32.23. Engine's entry $29.46 (support + ATR (held)) is the shallowest technical level that clears the 2:1 A.R:R minimum. Key risks: Negative momentum; Below 200-MA, MA slope -2.4%/30d (confirmed downtrend). Chart setup: Death cross, below all MAs, RSI 35, MACD bearish. Wide-moat business. Accumulate on weakness. Target $40.86 (+26.8%), stop $25.80 (−24.9%), A.R:R 2.4:1. Score 6.0/10, moderate confidence.
Take-profit target: $40.86 (+26.8% upside). Target $40.86 (+26.8%), stop $25.80 (−24.9%), A.R:R 2.4:1. Stop-loss: $25.80.
Negative momentum; Below 200-MA, MA slope -2.4%/30d (confirmed downtrend).
On Holding AG trades at a P/E of 22.2 (forward 15.6). TrendMatrix value score: 7.1/10. Verdict: Buy (Wait for Entry).
36 analysts cover ONON with a consensus score of 4.1/5. Average price target: $45.
What does On Holding AG do?On Holding AG, together with its subsidiaries, develops and distributes performance sports products under the On brand...
On Holding AG, together with its subsidiaries, develops and distributes performance sports products under the On brand in Switzerland, the rest of Europe, the Middle East, Africa, the United States, the rest of the Americas, and the Asia-Pacific. The company offers athletic footwear, apparel, and accessories for performance running, performance outdoor, performance all day, performance training, performance tennis, and young movers. It sells its products to athletes and active customers through wholesale and direct-to-consumer channels; run specialty, general sporting goods, outdoor, luxury, street fashion, and lifestyle retailers; owned retail stores; and e-commerce platforms. On Holding AG was founded in 2010 and is headquartered in Zurich, Switzerland.