Company: OVERSTOCK COM INC DEL
BT: $20 Second allocation will be between $10-$14 pending how the stock trades this month expecting to be a very bearish April for OSTK
ST: $40-$60 (A range nothing ever goes exactly to plan however we believe ultimately we can reach this high this year.)
Description: Overstock.com, Inc. operates as an online retailer...
What I had considered a bellwether for cryptocurrencies is now lagging behind the 15% increase in $BTC.
Expecting big pop after it seems to have completed its retrace at the .618 fib.
Let’s get it.
I still think this stock has a bottoming pattern in the works. Price failed right above $23 at previous major supply level. Massive short interest finally took this down on market weakness. However, bitcoin price action and volume still looking great and this should be back in the 20s with any spike in bitcoin. Heavy institutional buy volume is supporting the...
It looks like this could be the bottom of the ABC correction wave which started at $23.40.
The Tenkan and Kijun cross, the could flip as well as the demonstrated cloud support are all bullish indications.
A close below $16.70 could spell trouble for the uptrend, however.