$OSTK Bull trend resumes above Golden Cross for likely 3rd waveThe Bull Bear Trend oscillator back to bullish.
As much as shorts will have you believe that there is no reason for them to be concerned they are already covering and the number of shares sold short is down 17% from the highs.
Not covering here near the golden cross, 9% above the 200-day MA is very risky even from a TA perspective.
Additionally, the date of record on the new dividend is only 24 trading sessions away. A conservative estimate is that shorts not covered by the date of record may be on the hook for an additional $37,000,000.00 to cover the cost of TZero tokenized securities due to shareholders.
Even if the value of all of the Medici Ventures, patents and capital raised is taken out of the equation the shares are currently underpriced. The 2 analysts offering 12-month price forecasts for Overstock.com Inc have a median target of $44.00, with a high estimate of $48.00 and a low estimate of 40.00. The median estimate represents a +143% increase from the last price of $18.11 .
Overstock
$OSTK extended 3rd wave could produce 200% gains as shorts coverAs much as shorts will have you believe that there is no reason for them to be concerned they are already covering and the number of shares sold short is down 17% from the highs.
Not covering here near the golden cross, 9% above the 200-day MA is very risky even from a TA perspective.
Additionally, the date of record on the new dividend is only 24 trading sessions away. A conservative estimate is that shorts not covered by the date of record may be on the hook for an additional $27,000,000.00 to cover the cost of TZero tokenized securities due to shareholders.
Even if the value of all of the Medici Ventures, patents and capital raised is taken out of the equation the shares are currently underpriced. The 2 analysts offering 12-month price forecasts for Overstock.com Inc have a median target of $44.00, with a high estimate of $48.00 and a low estimate of 40.00. The median estimate represents a +143% increase from the last price of $18.11 .
$OSTK touching down on 200-day MA. Golden cross in progressThe stock overcorrected due to the communication style of the eccentric CEO Patrick Byrne. The nature of what was communicated concerned shareholders but should have no bearing on the performance of the company. Search traffic is up meantime and the recent earnings conference call was positive. I see this as an overreaction on the part of many shareholders combined with a crash in the market and aggressive short-selling.
Looks like another $OSTK buying opportunityThis is an entry opportunity, perhaps a little sooner than expected. Regardless of Patrick Byrne's public statements which may have created some concern even though they are unrelated to the company, ultimately this looks like a backtest of several levels of support which were previously resistance.
The ADX and DI are still solidly in favor of the bulls for the time being. Keep an eye on the weekly candle close as well as the $20 support level.
$OSTK entering weekly cloud E2E may take it to $30.15 even $39.5$OSTK has a lot of momentum to the upside and yesterday's earnings call just reinforced this right as it breaks through weekly cloud resistance. Typically this indicates that there will be a continuation to the upside. I expect to see the price break 30.15 over the next few weeks and don't expect there to be much resistance beyond that until around $39.50 .
Weekly RSI is also looking bullish, well above 50 and has plenty of room to run.
OSTK stop lossI'm still looking for more up through September but with earnings tomorrow and the overall market being a little shaky a stop loss in here somewhere is probably a good move just in case
Overstock.com bigger pictureStill seems nutty to think this thing is gonna go up farther without a pullback but that volume has been nutty too so i'm along for the ride but watchin it pretty close. Closed over the daily 200 ema again today and I would love to see $25 but bailing in this range ain't that bad either
$OSTK higher high on higher volume E2E would would be $16 #tZEROThe RSI is showing there is a lot of room to run. The next target is $16. Support is at $12.
Massive Inverse Head & Shoulder on a All Time Frame!Whoa, this may end up going Very, Very, Very Parabolic in the next few years.
$OSTK up over 13% since Mex tariff lows. Bullish RSI divergence.A higher low and a higher high would confirm that the bottom is in.
Nasdaq just made a higher daily high and the S&P 500 is back above the 200MA.
$OSTK failing to make new low after 8 days of lower $NDX #tZEROPatrick Byrne's stock sale to cover personal obligations induced capitulation in the stock price. Subsequent insider stock purchases have made it clear that this was not a sale induced by anything other than debt obligations.
As seen in the chart, mean reversion is overdue and probably being held back by a continued downtrend in the entire market. With the S&P 500 touching down on the 200-day MA yesterday a bounce in the market could cause OSTK to rebound much more (in percentage terms.)
The Kijun is a measurement of mean price over time, the stock price of OSTK usually only strays this far from the mean at the bottom of capitulation. A rebound could mean a 33% to 50% bounce from the lows. It is currently just above the lows after many days new market lows.
What $OSTK capitulation looks like, followed by 33% bounceOSTK has seen capitulation many times over the past 15 years. The small float makes it an easy target for mid-tier short sellers who can help it maintain a downtrend relatively easily compared to higher float stocks.
These long downtrends usually end in capitulation, well below the estimated valuation of the company. It is common for there to be a shallow (in dollar terms) Doji candle on either the four hour or the daily chart at the bottom. The bottom occurs below the Bollinger band displayed above.
At $9.30 OSTK will have dropped 60% from the March highs.
At $9 OSTK will have dropped 90% from the highs.
The typical bounce from the bottom of capitulation seen over the following 2 to 3 weeks is a gain of 33%
$OSTK strong reversal pattern on bullish RSI divergence. #tZEROConfirmation comes as the RSI makes it above 50 on multiple timeframes. At the moment it looks very much like a bottom with bullish RSI divergence.
$OSTK Bullish divergence. Bears have done their worst. #tZEROConfirmation will come as the RSI makes it above 50 on multiple timeframes. At the moment it looks like a bottom with bullish RSI divergence.
#Overstock $OSTK RSI bullish divergence #tZEROBoth the RSI and the Fibonacci retracement levels on the way down suggest that OSTK may be bottoming here.
Starting to accumulate some OverstockOverstock forming a declining wedge with not much downside based on technicals.
$OSTK #Overstock momentum reversal, multiple time frames #tZERO...uptrend on the daily chart is confirmed above $17.50
What happens if $OSTK runs out of panic sellers above support?Mean reversion takes it back to the cloud.
$OSTK #Overstock double bottom trend-line support and horizontalLooks like a short covering/entry opportunity.
#Overstock $OSTK looks like a stop hunting expeditionThe activity today is reminiscent of some of the stop hunting you see in crypto markets.
