Long period of selloff due to SEC complications about the tZero Cryptocurrency and Medici Ventures. There is a shortterm uptrend mostly confined within the regression trend, with two noticeable spikes outside of the field. We are currently at the base of the regression signalling a possible return to positive movement leading towards the 23rd at the target price of 41$ (a 10.8% potential gain). on the FA side the SEC has agreed to meet with the OSTK team to discuss regulation proceeding forward, meaning the current lawsuits are unlikely to have longterm implications past the current Price suppression.
Current: 37
Target: 41
Stop: 35
Basis: Oversold due to SEC regulations and Lawsuit over past months, which on SEC confirmation of meeting together to discuss lawful proceedings. Low end of Regression trend with potential to move higher.
Current: 37
Target: 41
Stop: 35
Basis: Oversold due to SEC regulations and Lawsuit over past months, which on SEC confirmation of meeting together to discuss lawful proceedings. Low end of Regression trend with potential to move higher.
Comment:
Bottom trend line looks to have been broken through today, still signs of cheaper entry as the stock bounces off 36.50 pretty handily. cheaper entry point and position still looking intact. Outlook remains the same going into Friday, will reassess.