Overstock.com – Falling Wedge Pattern

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


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!

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