I made my worst trade after opening a long position of OSTK when it was ~$80.00 back in early 2018. I scaled in and out a couple of times, but after all, I was fed up and liquidated all my positions around $50.00 - $60.00. It was just nasty. AND this stock has just gone worse day in and day out ever since. Everything aside, I think the trend could reverse if the price remains within ~$10.00 to ~$9.00, but the chart has to scream TREND REVERSAL. $10.00 is the closest support level which would also act as a psychological level for the price. Nevertheless, I anticipate that the price touches this level soon, but the main point is to see a decreasing bearish momentum and exhaustion for sales. For that, I would like to see things like divergence, range-based consolidation, or a washout volume. If the trend reversed, first resistance would be ~$14.00. The trend is unarguably down and the price is just sitting at the bottom boundary of the bearish channel. I did draw some patterns as I was trying to figure it out, but nothing really appealed me; It still needs time to develop. Bearish momentum is decreasing in the short-term charts but still not in the long-term.
Stay tuned...
Stay tuned...
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Current Price: 11.25