Featured

Overstock.com – Falling Wedge Pattern

I love falling wedges.  In fact — I love most stock patterns.

Why?

Because they are like mini-systems — each with their own entries and exits and rules.  That’s why.  I covered a nice one in GoPro $GPRO a little while back.  You can read about that here.

And here’s another one — in Overstock.com $OSTK.

$OSTK has taken a hit lately due to the Bitcoin debacle — but that doesn’t change this patter.

A break of the top downtrend line could take us as high as $90 with a first target in the $60 – $70 range.

Also, looking at the longer term weekly chart, $OSTK is sitting right on prior highs — a great level of support and a possible area to bounce.

While trade warrants a little more caution due to the legal issues, a pattern is still a pattern.

Goof luck out there!

Join The Discussion

Trend Trading Vs. Counter Trend Trading, Which One Is Better?
How The Biggest Retail Traders Got Rich
Trade Pocket Pivots Like an O’Neil Disciple
Make A Lot Of Money With A Small Account
Stock Market Update – 05/13/18

Every trader I’ve worked with over the last 18 years had...

Stock Market Update 04-29-18

“Like human beings, stocks behave differently. Some of them are calm,...

Stock Market Update 04-21-18

Hey Everyone! Happy weekend!  Hope your trading week was AWESOME and...

Stock Market Update 09-09-17

A short week in the market this week and outside of...