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Tzero

Bullish Flag for OSTK?OSTK appears to be consolidating into a giant bullish flag drawn in blue. On the KST there was a bearish cross where I've placed the red upward-pointing finger. I have placed a blue question mark to represent where a bullish cross is potentially going to occur near term. It's always possible this pattern plays out bearishly as a descending triangle, and if that happens the horizontal baseline of support will be broken to the downside; expect the red lines below to act as support areas in the event of a fake-out. JP Morgan has filed an application with the SEC to issue notes for a new investment product. The new basket dubbed “J. P Morgan Cryptocurrency Exposure Basket” will track the equity of publicly-traded U.S companies that are either “directly or indirectly” invested in Bitcoin and cryptocurrency-related efforts. Overstock is one of the companies on JP Morgan's list.
OLong
by ScotianBot
It's that time of year again--long OSTKHas consolidatied since September and has since bottomed, and recently broke the $85 resistance, is above the VWAPs from the lows and the August high, has earnings coming up, is coming off a massive volume shelf, and it's positively correlated with tZero, which has also bottomed and is coming out of that. OSTK has a cycle and huge structure which can go up violently for a few months at a time (like this summer) and then spend a few months chopping up traders. NOW is the former. Watch out for resistance points like 95, 112, and 130, but with OSTk it's possible that it may not spend too much time around those levels after hitting them. I think previous highs will eventually be smashed in the next 2 months or so.
OLong
by neoyouaretheone
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
Massive Inverse Head & Shoulders.It appears as though Overstock has formed a nice rounding bottom, which is now turning into a Cup & Handle potentially.. There's a few bullish indicators & even more so there's Macro events taking place with blockchain in China that are likely going to take this stock to new All Time Highs. tZERO said Hong Kong-based private equity firm GoldenSand Capital (formerly known as GSR Capital) has bought a 5 Million stake in the company. I wouldn't be surprised If Chinese investors are supporting this stock heavily now, especially since China is rolling out their new digital currency. McDonald’s and Starbucks are reportedly part of China’s digital currency trial. China has rolled out a digital currency trial in Xiong’an, an area southwest of Beijing in the Hebei province, according to state-backed media reports. McDonald’s, Starbucks, and Subway are the only three American firms among 19 companies participating in the trial. The People’s Bank of China (PBOC) has been working on a digital yuan for the past few years but has made clear that it has not yet officially launched. McDonald’s and Starbucks are among a handful of companies taking part in a new pilot program for China’s upcoming digital yuan, according to state-backed media, as the world’s second-largest economy pushes forward with its plans for an electronic currency. This is the main reason why China propaganda has become dangerously provocative in America. China is rolling out a cryptocurrency, a lot of the details have not been divulged. I can tell you the cryptocurrency China’s rolling out will likely be backed by gold. China’s got 20,000 tonnes of gold or more, add the fact they are dumping U.S debt & treasuries at an alarming rate, it's plausible they'll bring back a gold standard for the new century.
O
by ScotianBot
2
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
$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
$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 .
OLong
by blloyd
1