Couldn't find much coverage so I initiated one.
Looking at the chart, I believe NASDAQ:OSTK is starting a run up after upbeat Q2 earnings along with acquisition if
BBBY
IP assets and the future outlook is better as stated by management. Still there is work needs to be done. NASDAQ:OSTK received a couple of upgrades after ER.
On the technical side, i think it needs to be above $35 to consolidate for some time and shouldn't close below $33.5 on the daily and that will my stop loss. I drew the fibs from the highs of Sept 22 and drew a cup and handle (ugly btw). If you have no position I recommend you scale in at $35 and below or wait until it closes above its 200 EMA @ $37/$38.
Currently am holding Sept $40 Calls bought on yesterday's retracement.
Appreciate your thoughts/Will update as we move forward.
Stay tuned.
Looking at the chart, I believe NASDAQ:OSTK is starting a run up after upbeat Q2 earnings along with acquisition if
BBBY
IP assets and the future outlook is better as stated by management. Still there is work needs to be done. NASDAQ:OSTK received a couple of upgrades after ER. On the technical side, i think it needs to be above $35 to consolidate for some time and shouldn't close below $33.5 on the daily and that will my stop loss. I drew the fibs from the highs of Sept 22 and drew a cup and handle (ugly btw). If you have no position I recommend you scale in at $35 and below or wait until it closes above its 200 EMA @ $37/$38.
Currently am holding Sept $40 Calls bought on yesterday's retracement.
Appreciate your thoughts/Will update as we move forward.
Stay tuned.