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Overstock.com, Inc. (OSTK)

NasdaqGM - NasdaqGM Real-time price. Currency in USD
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80.94-0.02 (-0.02%)
At close: 4:00PM EDT
80.39 -0.55 (-0.68%)
After hours: 07:56PM EDT
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  • N
    NICK Charts
    OSTK Fri: What will OSTK do pre-earnings? After a little run from oversold, big traders will likely hold OSTK in a channel between closing (not intraday) $84’s-$78’s until earnings w/both sides hedging. Why?

    It’s not just OSTK, many big stocks have traded this way recently. Inflation, supply chain, labor costs, etc have made earnings and guidance a guess. (This is new thinking discussed on calls - wait, see then attack). Charts showed mild accumulation before but that has clearly paused.

    Still, even the rain clouds must admit that OSTK has gained since last week’s low of $71.53 intraday and $73.81 close. Rapid accumulation before earnings in past quarters was Covid bargain hunting (for many stocks) and that cycle has passed. Yes, OSTK can easily break out again but it has to prove it with earnings & guidance, not FOMO before.

    Want proof? Look at the volume for past 7 days - 1.4 mil, 1.3, 900k, 800k, 600k THREE times in a row. Hovering lower as traders await next catalyst (earnings) rather than risk buying before. This means $90+ is unlikely before earnings but after is the gamble. Do your DD, just one opinion.

    Iridium and Marjorie, good TA job as usual as I was occupied today. Thx.
  • J
    Jerry
    Nagle’s Neutral rating for Wayfair suggests he isn’t particularly bearish on the stock, and his lower price target still represents more than 12% upside from current levels. But traders looking to mitigate risk from the upcoming earnings reports can still make a pair trade to bet on relative performance by going long Overstock and short Wayfair.
  • I
    Iridium Seeker
    Really a fantastic day for OSTK in my opinion. Super strong 10/20DMA retest despite the market/crypto pressures. Apologies for bragging but my calls at $78.50 strike net me 700% (two sets, expiring today and next friday). Of course this was a tiny position though. Hope others jumped in on the retest!

    Just a shout out, VIX is really low right now. Almost the lowest it has been since the March '20 crash. And 10y interest rates are coming up to a resistance level around 1.8%. Adding some for long protection may not be a bad idea. I bought some November 17 calls.

    Have a fantastic weekend everyone! We may have a comment from Nick Charts to look forward to :)
  • I
    Iridium Seeker
    We're still yet to close above 82 and my call for resistance at that level (as admittedly a lot of others have made) is playing out. If we see a close above 82, I will feel much better about the momentum. Closed my short-term calls today for a really nice 140% profit. Don't want to hold past today due to theta crush after Wednesdays.

    Also, the run up we've had since last week has been relatively conservative, on low volume, as I have been calling. Watch for above average volume in the coming days and check how price reacts. If we shoot up, shorts will begin closing which could mean they will come back to apply pressure post earnings. If we don't move up quick despite growing volume, that will signal uncertainty and earnings will decide our direction in mid term.

    I will try my best to provide guidance but I really hope and pray Nick comes back. We will lose one of the most important posters of this board without him.
  • A
    Anthony
    I have seen 6 Patriots super bowls, 4 Red Sox World Series, a Celtics Championship, and a Bruins Stanley Cup in the last 20 years. I have learned one thing. I never get tired of winning. I believe Mr. Nick when he says green days aren't as important as momentum. I just want every day to be green anyways.
  • P
    PaulMG
    Today Benzinga: BofA analyst reiterated a Buy rating on OSTK & raised his PT from $89 to $97. Nagle also reiterated a Neutral rating on Wayfair and cut the PT from $302 to $275. The exciting part of OSTK, is that BofAs PT of $97 doesn't seem to add any tZero value. OSTK owns 83% of tZERO. During a tZero call, Pelion Ventures thought the new CEO would be in place by 9/30 . . . so it s/b soon . . . hopefully this month. tZero is essentially creating the SEC approved process of digitalized securities and has customers and revenue. 3 OSTK PTs' "avg" 12 mo return is 44%.
  • N
    NICK Charts
    OSTK Thurs. premarket: Time for a daredevil call (supported by charts). Market futures are red, premarket for OSTK is flat (was just red) but my charts say otherwise for OSTK EOD.

    Another day that OSTK will likely outperform market. Another Green Day close (momentum over # days). Also, I see a likely $84 intraday test. All this may also come with a dip to red (esp. morning dip with lowish volume). But I also know that algos will soon have to chase.

    All this is based on charts and a LIKELY probability, not certainty, so do your DD if day trading.GL
  • N
    NICK Charts
    OSTK Wed @close. Like I said, momentum is always more important than # days green. This is acting like slow, steady accumulation before earnings, not just a few lucky days. Why?

    Just pop up a 5 day chart and you tell me that’s not a trend.

    $84 wall, here we come.
  • M
    Marjorie
    Numbers
    Pivot
    81.72

    Support
    80.80
    79.89
    79.36
    78.83

    Resistance
    82.25
    82.78
    83.69
    84.61

    Good Morning All! Let's make it a good day and hope max pain isn't lower.
  • 1
    1955Tbirdrestoman
    Well Ken, to come back from over $2 today to where we might finish up we all should be happy. I will also say we had a great week.
  • M
    Marcell
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  • O
    OhioKen
    I'll kindly ask the group this question again. Maybe NICK has left the building. I could benefit from knowing from those that chart these things. Will OSTK see $86 or $78 first. No penalty here for an educated opinion.
  • 1
    1955Tbirdrestoman
    Digital World Acquisition Corp. (DWAC)
    NasdaqGM - NasdaqGM Real Time Price. Currency in USD
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    Quote Lookup

    47.73+37.77 (+379.22%)
    As of 2:40PM EDT. Market open.
    has anyone bought or followed this today?
  • P
    PaulMG
    ER will be exciting, but another catalyst involves tZERO. OSTK owns 83% of tZERO and has invested $400m to $500m into tZERO. During a tZero call, Pelion Ventures thought the new CEO would be in place by 9/30 . . . so it s/b soon . . . hopefully this month. If they get the right CEO, with the right knowledge and connections, then the new CEO announcement by itself could be a big catalyst. Allowing companies, to raise equity and generate cash . . . without an IPO and without a traditional trading exchange. tZero is essentially creating the SEC approved process of digitalized securities.
  • I
    Iridium Seeker
    And there’s the dip. The breakout did end up materializing. My order hasn’t gotten filled yet but we came close.
    So far I like the action around here. Quickly bounced up. Today is going to be an important day to watch. Close of week is determined and if the DMA support at 78.50 holds, we should be good to continue the bullish run IMO.

    Let’s see. If someone notices something on small timeframes, please call out. I have a bit of a busy day today.
  • I
    Iridium Seeker
    On shorter time frames, we've broken out below the rising channel. FWIW, this could move us down to $78.50 (10/20DMA) if we don't hold support at $80. Depending on action there, would be a good buy opportunity. But we've broken below DMAs before with momentum so keep an eye on the price there.
  • I
    Iridium Seeker
    If we don't rebound from $80 or from here, we could retest $78.50 tomorrow or day after. I will put another short term swing order there.
  • M
    Marjorie
    Numbers for Today
    Pivot
    81.84

    Support
    81.33
    80.82
    79.95
    78.88

    Resistance
    82.81
    83.78
    84.29
    84.80

    Have a good day everyone!
  • O
    OhioKen
    So where's this momentum leading up to earnings on Thursday? 83? We can't even hold 80.
  • J
    Jerry
    NICK that 5 day chart does look beautiful, even for those Lookie Lou's who only watch, it doesn't tastes as sweet for them, but it certainly looks good. Don't just window shop next time, buy something, OhioKen, another Green Day? I think so, like I said, and tomorrow too.