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Overstock

Ascending Triangle for OSTK?Since my previous post on OSTK linked to this chart we have seen some support on the KST & a bounce back into the descending channel. Where I had a question mark before on the KST is now another blue finger icon representing a micro bottom. The RSI has additionally bounced back into what was a descending triangle, it's possible we see this play out as a bullish flag or inverted H&S, I've placed a blue body to represent the head of the pattern, notice the right shoulder is squeezing into the end of the descending triangle.
OLong
by ScotianBot
Potentially an Ascending Triangle forming for OSTK?It appears as though a Head and Shoulders on the RSI & KST has already played out to the downside, notice the blue Descending Triangle with the red colored lines representing the H&S on the RSI. Investors should acknowledge that the previous CEO of Overstock was great friends with Warren Buffett and spoke with him privately before departing the company. I find no coincidence that Bank of America is now involved with book running a financing regarding OSTK, interesting. Buffett recently ventured into Gold by buying shares in Barrick Gold, "if" Buffett was going to buy anything crypto related I would imagine Overstock is of interest. Buffett sold basically all his bank stocks except Bank of America, interestingly Buffett bought more Bank of America. tZERO said Hong Kong-based private equity firm GoldenSand Capital (formerly known as GSR Capital) has bought a 5 Million stake in the company earlier in the year, I mentioned before I wouldn't be surprised If Chinese investors are supporting this stock heavily now, especially since China is rolling out their new digital currency. It would make sense given the parabolic rise in the OSTK since the announcement and chart I've linked to this chart. Nothing wrong with a little speculation. Back to the chart, if we get a bounce off the green upward sloping support and the price gets rejected at the horizontal green line of the potential Ascending Triangle, the RSI is likely get back into what was a descending triangle and could potentially top out at the downward sloping resistance of the blue pattern in the RSI. Or, It's possible OSTK could get back into the blue pattern on the RSI and create a support at the base of the pattern to then look for some higher high creation. We've possibly seen a blow off top that will end in a bearish H&S pattern that has already played out on multiple indicators. Interestingly, the price has not formed the right shoulder yet, I have placed three coinciding red lines to represent the potential H&S. Or, OSTK simply has seen a healthy correction back to the public offering price of $84.50 per share, and now we're going to continue the parabolic uptrend? It's possible we see a Golden Cross on the KST this week, I've placed a question mark icon to represent where a potential golden cross may occur, if the green line crosses the red to upside similar to previous examples on the chart where I have placed blue fingers pointing upward OSTK would start looking very bullish.
OLong
by ScotianBot
OSTK is trading in an Ascending Triangle.Keep an eye on the KST, if the price continues rising but there is no higher high on the KST or the RSI there will be a double bearish divergence formation. KEY TAKEAWAYS of Ascending Triangles. The trendlines of a triangle need to run along at least two swing highs and two swing lows. Ascending triangles are considered a continuation pattern, as the price will typically breakout of the triangle in the price direction prevailing before the triangle. Although, this won't always occur. A breakout in any direction is noteworthy. A long trade is taken if the price breaks above the top of the pattern. A short trade is taken if the price breaks below the lower trendline. A stop loss is typically placed just outside the pattern on the opposite side from the breakout. A profit target is calculated by taking the height of the triangle, at its thickest point, and adding or subtracting that to/from the breakout point.
OLong
by ScotianBot
Is OSTK trading in a bullish flag or descending triangle? Overstock appears to be trading in a bullish flag or a descending triangle, notice the downward red line of sloping resistance & the green horizontal line represents the baseline of support, but if breached this pattern is likely a descending triangle. If the descending triangle plays out I'd expect to see the blue upward sloping line potentially act as support, this could start to form a ascending triangle depending upon how the bullish construction looks on the chart forms over the next few days.
O
by ScotianBot
2
Wayfair: Chart Overextended and Price way beyond FundamentalsYou can see that selling on the upper red line has rewarded shorts in the past and I believe that this is a great short opportunity here - one of the best i have ever seen. We have got way over extended and fundamentally the price is just way too high for a this company, even with the 'shopping online' narrative that has been done to death. Overstock is the much better company in reality. Margins are just too small for furniture and you only have to read Wayfair reviews on the likes of Trustpilot to realise how poor their products are. I think we should at the very least see a retrace back to the 250 levels here.
NYSE:WShort
by TheZenDegen
$OSTK - Strong waves up, weak(er) waves down.$OSTK - Strong waves up (GREEN), weak(er) waves down (YELLOW). Represents solid buying with (expected) intermittent profit taking on the way up. "Angle of Ascent" on this latest Wave is pretty steep again, much like it was in Wave 3. Momentum indicators remain strong even during the times of retracements in the overall trend. 50MA still angling solidly up. Always trade in the dominant direction of the market! Follow @MarketTrendAdv on Twitter for additional trend trading ideas. Starting to now post to TradingView also. Feel free backcheck previous Twitter calls dating back to the beginning of 2020. Best of Luck in your trading... twitter.com
OLong
by starman101
1
Is OSTK trading in a Ascending Triangle?It appears as though $OSTK is holding support above the 200 Day MA & potentially trading in a Ascending Triangle. The trendlines of a triangle need to run along at least two swing highs and two swing lows. Ascending triangles are considered a continuation pattern, as the price will typically breakout of the triangle in the price direction prevailing before the triangle. Although, this won't always occur. A breakout in any direction is noteworthy. A long trade is taken if the price breaks above the top of the pattern. A short trade is taken if the price breaks below the lower trendline. A stop loss is typically placed just outside the pattern on the opposite side from the breakout. A profit target is calculated by taking the height of the triangle, at its thickest point, and adding or subtracting that to/from the breakout point.
OLong
by ScotianBot
Buy targets on MUUpon dropping to 42 and approaching oversold territory, Micron has gotten some positive catalysts. A couple analyst agencies have upgraded Micron, bringing its Equity StarMine Summary Score to a surprising 8.9/10. Also, yesterday Micron filed a Form 4 indicating that one of the directors had purchased some shares. Unlikely though it seems to me given Micron's poor earnings right now, the stock may get a short-term bounce from 40 or so. I suspect, though, that there will be opportunities to buy at a cheaper price later in October. I'd like to see 32.50 or even 28 before I'd buy. Just as a side note, I was shocked by the name on that Form 4. Patrick Byrne is a director of Micron?? This is the guy who recently got forced out as CEO of Overstock.com after his girlfriend got convicted as a Russian spy. Dude's a total loon, and I find this a little worrying for Micron.
NASDAQ:MU
by ChristopherCarrollSmith
$OSTK shorts should have covered now they are out of time $OSTKOPositive fundamental factors to consider: - Insider buying s.flashalert.me - SEC inquiry coming to an end www.foxbusiness.com - Working with Oppenheimer M&A to sell retail - Search traffic up 50% in Q3 twitter.com - Global rank soaring higher twitter.com - Dividend on the 23rd - 31% Increase in traffic from Overstock.com to payment processor twitter.com - Seeking Alpha: Overstock.com: Already 2 Months In The Black And Likely To Surprise seekingalpha.com
OLong
by blloyd
$OSTK breakout from ascending fib channel? Not even overboughtPositive fundamental factors to consider: - Insider buying s.flashalert.me - SEC inquiry coming to an end foxbusiness.com - Working with Oppenheimer M&A to sell retail - Search traffic up 50% in Q3 twitter.com - Global rank soaring higher twitter.com - Dividend on the 23rd - 31% Increase in traffic from Overstock.com to payment processor twitter.com - Seeking Alpha: Overstock.com: Already 2 Months In The Black And Likely To Surprise seekingalpha.com
OLong
by blloyd
2