OSTK - Woken up from SlumberAs we can see over the past few days a strong rotation is taking place. Growth stocks are on the decline (providing lovely long term position opportunities), and some other stocks like Overstock are breaking out! I entered yesterday betting that the breakout was true and it was confirmed this morning with a huge gain. My TPs are on the chart. I’m going to TP 25% on each position and put the money to the side for another opportunity; which is something I’ve learned is smart to do over time!
This is not a fundamental based trade as I don’t know much about Overstock, this is purely a technical play. Be patient if you are in or considering getting stock in this asset.
BYON trade ideas
Bullish Pattern $OSTK targeting 20 - 22 if not break down 14.8Overstock share fell hardly from recent top and formed bullish pattern currently supported by 14.8 and confirmation for up move to break up the resistance 18.18 actually it could find lower support between 13.8 - 12.8 if close below 14.8 then this scansion is canceled . $OSTK used to be opposite of market performance (not all time) so Technically dont look to it if markets going Up sharply also its has good performance during bounce days..
$OSTK falling wedge, bullish divergence, ascending fib channelIn addition to what is highlighted in the chart, the low of yesterday bounced off of secondary cloud support on the daily chart.
Positive 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
$OSTK painting a doji as it bounces off of 200MA and cloudClearly oversold and days away from a dividend date of record. Shorts have borrowed all available shares with 65% of the float sold short.
A Spy Movie in the making just might pump this stockIf you haven't heard the news of form CEO of Overstock stepping down because he's blowing the whistle on deep state operatives who were attempting to blackmail Hilary Clinton, Rubio, Cruz and Trump during 2016 Election. I see dump maybe being from a panicked insider, but other than that the chart looks healthy and is bouncing back nicely. There could be more upside in that the company is gonna get a lot of free press probably for several months as indictments of these bad actors start to roll.
OSTK Re-spreading it's wings? Hello all! Here's my first published idea:
Reasons for OSTK long:
1) OSTK Recently announced it's involvement as a blockchain company
2) Volume has been extremely high since '05, especially in the bulls favor since June.
3) Golden Cross just occurred mid August
I'd love to see us cross $33.20 where we've met resistance over the last few months, and where we bounced off of on the daily today.
~~~Let me know what you think! All feedback is great feedback.
OSTK price taking retracementOSTK price taking retracement and close to strong support line. Possibly buy. wait for 123 pattern for confirmation. I also watching this one .
$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 .
$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 Looks like this one could see some resistance around 28.69 area before moving on, but could definitely see more upside.
OVERSTOCK.COM UP OVER 15% ON STRONG VOLUME ON EARNINGS RELEASEOverstock.com is up today over 15% on almost double average daily volume after reporting earnings.
The 50-day moving average line has been trending upwards and it is approaching the 200-day moving average line.
The stock has a BUY consensus analyst rating and a $41 price target:
quotes.wsj.com
$OSTK bull flag ready to break higherAs mentioned in the chart linked below $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 .
On this 15 min chart the bull flag/coil seems to be coming to a head and ready to break higher.
$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
OSTK - Watching Only OSTK - Not the greatest of the 3 post market plays SLS / WKHS / OSTK but looks for a possible bounce, 5-7 % bounce odds not great but will be watching pre-market movement for bounce ability and new support levels watching only though as its likely not playing as this is probably a better short play which I am not currently playing.
Plus its Friday and Earnings is approaching traders likely wont want to hold over earnings on wednesday if this goes long at open from sell orders I would be shorting the shit out of this.
