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→Stable
- Earnings Beat Streak→Stable
- Analyst Upside Sentiment→Stable
- +2 more pillars — see the Why tab for full reasoning
On Holding AG (ONON) Stock Analysis
Range Bound setup
Consumer Cyclical · Footwear & Accessories
Wait for pullback to $35.50. Weak momentum; also below 200-day MA (death cross) — blocks BUY_NOW at $36.83. Engine's entry $35.50 (support + ATR) is the shallowest technical level that clears the 2:1 A.R:R minimum. Key risks: Negative momentum; Below 200-MA, MA slope -2.6%/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 $35.50. Weak momentum; also below 200-day MA (death cross) — blocks BUY_NOW at $36.83. Engine's entry $35.50 (support + ATR) is the shallowest technical level that clears the 2:1 A.R:R minimum. Key risks: Negative momentum; Below 200-MA, MA slope -2.6%/30d (confirmed downtrend). Chart setup: RSI 40 mid-range, Bollinger mid-band. Maintain position. Not compelling to add more. | News modifier +2 (HOLD_IF_HOLDING → STRONG_BUY_WAIT) Score 6.1/10, moderate confidence.
Passes 8/10 gates (favorable risk/reward ratio, clean insider activity, no SEC red flags, news boost analyst 0.35, news boost analyst cluster(5), earnings proximity 39d clear, semi cycle peak clear, materials cycle peak clear). Fails on weak momentum and death cross (50MA < 200MA). Suitability: aggressive.
Recent developments
updated 2026-07-06Recent 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 On Holding Discounting Puts Premium Pricing And Growth Story Under Review - Sahm — Sahm negative
- NEWS Hsbc Holdings PLC Sells 468,574 Shares of On Holding AG $ONON - MarketBeat — MarketBeat neutral
- NEWS Capricorn Fund Managers Ltd Buys Shares of 139,571 On Holding AG $ONON - MarketBeat — MarketBeat neutral
- NEWS Analysts Offer Insights on Consumer Cyclical Companies: Trip.com Group Sponsored ADR (TCOM) and On Holding AG (ONON) - T — The Globe and Mail neutral
Generated 2026-07-06T06:00:35Z.
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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 $35.50. Weak momentum; also below 200-day MA (death cross) — blocks BUY_NOW at $36.83. Engine's entry $35.50 (support + ATR) is the shallowest technical level that clears the 2:1 A.R:R minimum. Key risks: Negative momentum; Below 200-MA, MA slope -2.6%/30d (confirmed downtrend). Chart setup: RSI 40 mid-range, Bollinger mid-band. Maintain position. Not compelling to add more. | News modifier +2 (HOLD_IF_HOLDING → STRONG_BUY_WAIT) Target $47.09 (+27.9%), stop $33.63 (−9.5%), A.R:R 3.1:1. Score 6.1/10, moderate confidence.
Take-profit target: $47.09 (+32.6% upside). Target $47.09 (+27.9%), stop $33.63 (−9.5%), A.R:R 3.1:1. Stop-loss: $33.63.
Negative momentum; Below 200-MA, MA slope -2.6%/30d (confirmed downtrend).
On Holding AG trades at a P/E of 39.6 (forward 17.2). TrendMatrix value score: 6.4/10. Verdict: Buy (Wait for Entry).
35 analysts cover ONON with a consensus score of 4.2/5. Average price target: $52.
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.