OVERSTOCK COM INC DEL Stock analysisCompany: OVERSTOCK COM INC DEL
Quote:$OSTK
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-$60 (A range nothing ever goes exactly to plan however we believe ultimately we can reach this high this year.)
Description: Overstock.com, Inc. operates as an online retailer in the United States. It operates in two segments, Direct and Partner. The company sells its products and services through its Internet Websites located at overstock.com, o.co, o.biz, and Pet Adoptions and Worldstock.com, as well as through third-party logistics providers to international customers. The company was formerly known as D2-Discounts Direct and changed its name to Overstock.com, Inc. in October 1999. Overstock.com, Inc. was founded in 1997 and is headquartered in Midvale, Utah.
Medici Ventures manages Overstock.com’s investments in firms building solutions leveraging and servicing blockchain technologies.
Launched in 2014, Medici Ventures is a wholly owned subsidiary of Overstock.com, Inc., created to manage and oversee the company’s investments in firms building solutions leveraging and servicing blockchain technologies. Medici Ventures has a growing portfolio of groundbreaking new companies and tech businesses.
Short Interest:
Short Percent of Float 68.36 %
Short % Increase / Decrease -4 %
Tapes last week: 1/5 More bearish and only going to get worse during this month
BYON trade ideas
Starting to accumulate some OverstockOverstock forming a declining wedge with not much downside based on technicals.
OSTK$OSTK
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.
$OSTK #Overstock momentum reversal, multiple time frames #tZERO...uptrend on the daily chart is confirmed above $17.50
What happens if $OSTK runs out of panic sellers above support?Mean reversion takes it back to the cloud.
OSTK - downtrend reversed? I buy, you flyToday's dip triggered a limit order that I had placed last week to buy at $17.25. I believe the long downtrend has been broken after watching this stock for a long time. GL
$OSTK #Overstock double bottom trend-line support and horizontalLooks like a short covering/entry opportunity.
OSTK holding crucial $16 supportI 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 price above $16 imo.
#Overstock $OSTK looks like a stop hunting expeditionThe activity today is reminiscent of some of the stop hunting you see in crypto markets.
OSTK coiling, watching for breakout OSTK coiling. needs more time to consolidate. On watch for a break above trendline
Keep buying #Overstock $OSTK cloud support 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.
long OSTKthe 100 and 200 sma acted as support,,, if we get back into that channel,, I think we head to the top of the channel
#Overstock $OSTK demonstrating strong cloud support once againIt looks like this could be the bottom of wave 2 of 5 in this impulse wave pattern.
Wave 1 topped out 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.
OSTK Cup & HandleTechnicals:
Overstock is showing multiple bullish signals that can't be ignored.
Potential cup and handle.
Price above 20, 50, 100 and 200 SMA but not too high above.
RSI has found support near this area multiple times in recent past.
MACD is above zero line but might see a bearish crossover. This could provide opportunities for a good entry.
Above rising trend line (in blue).
If the cup and handle fails I am expecting 20/50 SMA to hold if that doesn't hold then next support will be at rising trendline.
The idea is to either trade the breakout of cup and handle or the bounce off of one of the support levels that I mentioned above. When buying the bounce make sure to use the stop loss right below the support. This could provide decent risk/reward ratio.
Fundamentals:
This is a low float stock with extremely high short interest ratio.
Float: 24.3M
Short Percent of Float: 59.95%
Days to Cover: 5.3565 Days
% Held by Institutions: 64.66%
Depending how the earnings come out on March 18th, this might see a massive short squeeze.
Disclaimer:
The information is to be used for educational purposes only. Not a recommendation to buy or sell.
$OSTK tests cloud support prior to earnings.It looks like this could be the bottom of wave 2 of 5 in this impulse wave pattern.
Wave 1 topped out at $23.40. The Tenkan and Kijun cross, the could flip as well as the demonstrated cloud support are all bullish indications.
Healthy traffic levels on overstock.com over the last quarter of 2018 are likely to have a positive impact on the upcoming earnings report along with progress made by several of the Medici Ventures brands in their markets of tokenized securities, land titles and voting on the blockchain. Short interest is maxed out.
The possibility of an announcement this coming Monday having to do with the sale of the retail operation coupled with the high likelihood of a venture capital investment in their blockchain startups gives OSTK a lot of upside potential.
