Earnings run-up also helps
Happy Trading, from CJ -- aka the greatest FURU.
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NASDAQ: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
On the KST there's a noticeable bullish cross where I have placed the blue finger.
On the RSI there has been a higher high for the first time since the blow-off top in the middle of August, rather bullish in my opinion.
The moment we have all been waiting for.
Sooner or later, fundamental and reality will catch up to you.
Buy OSTK for that quick rebound play in the demand zone.
Make sure you take profit aggressively once you hit your target lvl because OSTK is only good for the swing trade.
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...
Got a buy signal yesterday on Overstock so back in the trade again. RSI was well and truly in oversold territory and with the big gains on the DOW and NASDAQ last night the buying will hopefully continue. Ran REALLY well before its decline, so hopefully now that its back to a better value area might resume an upward trend. Worth a watch.
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...
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...
OSTK is in the middle of an extension wave. It consolidated in wave 4 of its extension today forming a pennant.
Wave 5 should be next with a target range of $127-130.
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...
You can see that selling on the upper red line has rewarded shorts in the past and I believe that this is a great short opportunity here - one of the best i have ever seen. We have got way over extended and fundamentally the price is just way too high for a this company, even with the 'shopping online' narrative that has been done to death. Overstock is the much...
The Monthly - Weekly indicators telling that Overstock is overbought.
We think that a pullback to at least $40 will happen.
First PT: $50.
Second PT: $30.
$OSTK - Strong waves up (GREEN), weak(er) waves down (YELLOW). Represents solid buying with (expected) intermittent profit taking on the way up. "Angle of Ascent" on this latest Wave is pretty steep again, much like it was in Wave 3. Momentum indicators remain strong even during the times of retracements in the overall trend. 50MA still angling solidly up. ...
