Falling wedge breakout Possibly a red day or slightly green for the overall market given long weekend ahead. I’ll be adding Overstock call options and shares today. Broke out of a falling wedge, and the price held when it went back down to test that prev resistance line (confirmation); TA suggests stock being 100+ by April. Ttm squeeze moving upward (Decreasing magenta bars) essentially means momentum is becoming positive (bullish); macd lines crossing recently were also bullish.
BYON trade ideas
Bullish ConsolidationPhysical retail stores have been booming. Money should flow back to online soon.
Bear breaks with zero follow through are where the best swings come, imo. You'll be seeing this a lot from me.
Overstock: breakout and retest of IHSNASDAQ:OSTK had an breakout of an inverse head and shoulders pattern. If the line holds it's worth a long position. Long-term this is a long anyway.
Related tickers:
OTC:TZROP
OTC:OSTKO
Massive cup and handle $OSTK$OSTK making a 3 year cup and handle from Jan 2018 to now. Also $OSTK broke out of a descending wedge today. My short term price target is $167. Love there blockchain side of the company for a long term hold but will start taking profits over $150 on my options.
OSTK breakout! Price targets and analysisOSTK has broken out of a bearish trend that has lasted since the highs of late August .
I would expect price action to first target the support line at the .382 fib at 67.12
Looking at the gap we made in July of last year, i think we may go as high as 73.50 before too much real hesitation.
This play has already matured substantially, but with a previous summer 2020 high of 128.42 and the pivot point at the 618 fib, we may end up retesting that area.
This one may be played better in increments, using dollar cost averaging as a foundation in these lower areas, with an ultimate target in the 85-90 range.
We are up 19% on the day already, so it would be wise to look for an entry on the retrace.
59-60 would be an area id look to test again if we do fall back a bit.
OSTK: WEDGE BREAKOUT SET UPOSTK end of the long consolidation.
Watch for a break of the wedge pattern .
First target at around 68 (top of the ichimoku cloud).
Next potential targets on the chart.
OSTK - Long with a great R/R !OSTK - Good looking chart with a great R/R. It will need to be managed if it advances so that we know if this is a 3 waves move or the start of a new bullish impulsive wave.
The red 200MA and the lila anchored VWAP need to be broken for this to have a sustained move higher.
OSTK MA8,9,20 and BUY POINTPersonal opinion of what OSTK cand do during the next weeks, the buy point would be, around January or early February, though we must keep looking close.
$OSTK bulls need to be patient - buy level is at $39-$41$OSTK bulls need to be patient - buy level is at $39-$41
OSTK: double bottom on 4hr RSIWe can see a double bottom on the StockRSI and RSI on the 4 hrly ... long here for a bounce to 69/70
Volume increasing
Stoploss at 46.5
$OSTK. Bullish divergence on 1HDescending wedge. 1 Scenario. The price can bounce from the support line. 2 Scenario. The price can go deeper to the support line ( wedge ) and then go up. Take profit is depend on your strategy
ostk dropping like a rockostk is back in the range, now oficially on a down trend, let's wai a little bit because in a couple of months from now we might see a nice buying opportunity
Possible Parabolic ArcMost parabolic arc patterns fall at least 50 to 62% in correction mode. Some only fall 38%, others fall 100%. It depends on the stock.
38% 80.8
50% 65.5
62% 50.40
79% 29.49
The low since the high of 128.5 is 48.5 which would clock a fall of over 62%.
OSTK - Watch for breakoutOSTK - Currently at strong support trend line, watch for bounce this level or reject, I am expecting bounce, at bounce good to enter 87c - Jan expiry
OSTK: 53.8 COUNT INVALIDATION LEVELMONITOR Price action CAREFULLY, Invalidation LEVEL a 53.8. ...
GENERAL MARKETs are anticipated to be in a CORRECTIVE mode, KEEP your stops trailing. ... CLOSELY
Potential for good profits after markets stabilize
