Potentially an Ascending Triangle forming for OSTK?
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 no coincidence that Bank of America is now involved with book running a financing regarding OSTK, interesting.
Buffett recently ventured into Gold by buying shares in Barrick Gold, "if" Buffett was going to buy anything crypto related I would imagine Overstock is of interest. Buffett sold basically all his bank stocks except Bank of America, interestingly Buffett bought more Bank of America.
tZERO said Hong Kong-based private equity firm GoldenSand Capital (formerly known as GSR Capital) has bought a 5 Million stake in the company earlier in the year, I mentioned before I wouldn't be surprised If Chinese investors are supporting this stock heavily now, especially since China is rolling out their new digital currency.
It would make sense given the parabolic rise in the OSTK since the announcement and chart I've linked to this chart.
Nothing wrong with a little speculation.
Back to the chart, if we get a bounce off the green upward sloping support and the price gets rejected at the horizontal green line of the potential Ascending Triangle, the RSI is likely get back into what was a descending triangle and could potentially top out at the downward sloping resistance of the blue pattern in the RSI. Or, It's possible OSTK could get back into the blue pattern on the RSI and create a support at the base of the pattern to then look for some higher high creation.
We've possibly seen a blow off top that will end in a bearish H&S pattern that has already played out on multiple indicators. Interestingly, the price has not formed the right shoulder yet, I have placed three coinciding red lines to represent the potential H&S.
Or, OSTK simply has seen a healthy correction back to the public offering price of $84.50 per share, and now we're going to continue the parabolic uptrend?
It's possible we see a Golden Cross on the KST this week, I've placed a question mark icon to represent where a potential golden cross may occur, if the green line crosses the red to upside similar to previous examples on the chart where I have placed blue fingers pointing upward OSTK would start looking very bullish.
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 no coincidence that Bank of America is now involved with book running a financing regarding OSTK, interesting.
Buffett recently ventured into Gold by buying shares in Barrick Gold, "if" Buffett was going to buy anything crypto related I would imagine Overstock is of interest. Buffett sold basically all his bank stocks except Bank of America, interestingly Buffett bought more Bank of America.
tZERO said Hong Kong-based private equity firm GoldenSand Capital (formerly known as GSR Capital) has bought a 5 Million stake in the company earlier in the year, I mentioned before I wouldn't be surprised If Chinese investors are supporting this stock heavily now, especially since China is rolling out their new digital currency.
It would make sense given the parabolic rise in the OSTK since the announcement and chart I've linked to this chart.
Nothing wrong with a little speculation.
Back to the chart, if we get a bounce off the green upward sloping support and the price gets rejected at the horizontal green line of the potential Ascending Triangle, the RSI is likely get back into what was a descending triangle and could potentially top out at the downward sloping resistance of the blue pattern in the RSI. Or, It's possible OSTK could get back into the blue pattern on the RSI and create a support at the base of the pattern to then look for some higher high creation.
We've possibly seen a blow off top that will end in a bearish H&S pattern that has already played out on multiple indicators. Interestingly, the price has not formed the right shoulder yet, I have placed three coinciding red lines to represent the potential H&S.
Or, OSTK simply has seen a healthy correction back to the public offering price of $84.50 per share, and now we're going to continue the parabolic uptrend?
It's possible we see a Golden Cross on the KST this week, I've placed a question mark icon to represent where a potential golden cross may occur, if the green line crosses the red to upside similar to previous examples on the chart where I have placed blue fingers pointing upward OSTK would start looking very bullish.
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