When Overstock.com (OSTK) Moves Investors should Listen

October 16, 2021, 02:45 am ET, BY Barry C.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

How do we know what is going on #behindthescenes of a company?  According to Stock Traders Daily, a 20-year #financialindustry innovator, the best way to do this to to watch the price action in the stock. The  Overstock.com (NASDAQ: OSTK) report below is a real world example. Included are trading plans for OSTK, but this report is static. If you want an update, or a different stock, please get one here Unlimited Real Time Reports. 

Longer Term Trading Plans for OSTK

• Buy OSTK slightly over 66.49 target 81.12 stop loss @ 66.3 Details

The technical summary data tells us to buy OSTK near 66.49 with an upside target of 81.12. This data also tells us to set a stop loss @ 66.3 to protect against excessive loss in case the stock begins to move against the trade. 66.49 is the first level of support below 77.67 , and by rule, any test of support is a buy signal. In this case, support 66.49 would be being tested, so a buy signal would exist.

• Short OSTK under 81.12, target 66.49, stop loss @ 81.35 Details

The technical summary data is suggesting a short of OSTK as it gets near 81.12 with a downside target of 66.49. We should have a stop loss in place at 81.35though. 81.12 is the first level of resistance above 77.67, and by rule, any test of resistance is a short signal. In this case, if resistance 81.12 is being tested, so a short signal would exist.

Swing Trading Plans for OSTK

• Buy OSTK slightly over 78.03, target 81.12, Stop Loss @ 77.8 Details

If 78.03 begins to break higher, the technical summary data tells us to buy OSTK just slightly over 78.03, with an upside target of 81.12. The data also tells us to set a stop loss @ 77.8 in case the stock turns against the trade. 78.03 is the first level of resistance above 77.67, and by rule, any break above resistance is a buy signal. In this case, 78.03, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short OSTK near 78.03, target 73.75, Stop Loss @ 78.26. Details

The technical summary data is suggesting a short of OSTK if it tests 78.03 with a downside target of 73.75. We should have a stop loss in place at 78.26 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 78.03, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for OSTK

• Buy OSTK slightly over 78.03, target 78.45, Stop Loss @ 77.85 Details

If 78.03 begins to break higher, the technical summary data tells us to buy OSTK just slightly over 78.03, with an upside target of 78.45. The data also tells us to set a stop loss @ 77.85 in case the stock turns against the trade. 78.03 is the first level of resistance above 77.67, and by rule, any break above resistance is a buy signal. In this case, 78.03, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short OSTK near 78.03, target 73.92, Stop Loss @ 78.21. Details

The technical summary data is suggesting a short of OSTK if it tests 78.03 with a downside target of 73.92. We should have a stop loss in place at 78.21 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 78.03, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

OSTK Ratings for October 16:

Term →	Near	Mid	Long
Rating	Strong	Strong	Strong
P1	0	0	66.49
P2	73.92	73.75	81.12
P3	78.45	78.03	97.76

Support and Resistance Plot Chart for OSTK

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