$OSTK Weekly Analysis: A Major Pivot Point On The Horizon

The price action in the 12/1 session showed us that buyers wanted to defend ~$62.40 area (See POC). I expect buyers to continue this trend and push the price toward the top of the downtrend channel. The last two lows reacting on or near the 0.5 & 0.618 fib lines tell me that this was a healthy/normal retracement. Wait for a break of the channel to enter long. If the price fails to break the top of the channel - enter short.