There have been many posts about Overstock (OSTK) here on Slope – you can see the old ones here – but I wanted to add another one to the pile.
The head and shoulders pattern on the company is fantastic. Indeed, by traditional measured moves, the target price for OSTK is a negative number. So let’s just assume that, as battered as it already is (more than half the value destroyed already), it still has a ways to go.
Referencing this recent post………
I’ve made no secret of my enthusiasm for Overstock as a short, such as my posts from January 26th, March 1st, and March 14th. The stock has lost nearly HALF ITS VALUE since my first suggestion (see tint on chart below), and I believe it will be in the teens before the tumble is complete.