Long
$OSTK failing to make new low after 8 days of lower $NDX #tZERO
Patrick Byrne's stock sale to cover personal obligations induced capitulation in the stock price. Subsequent insider stock purchases have made it clear that this was not a sale induced by anything other than debt obligations.
As seen in the chart, mean reversion is overdue and probably being held back by a continued downtrend in the entire market. With the S&P 500 touching down on the 200-day MA yesterday a bounce in the market could cause OSTK to rebound much more (in percentage terms.)
The Kijun is a measurement of mean price over time, the stock price of OSTK usually only strays this far from the mean at the bottom of capitulation. A rebound could mean a 33% to 50% bounce from the lows. It is currently just above the lows after many days new market lows.
As seen in the chart, mean reversion is overdue and probably being held back by a continued downtrend in the entire market. With the S&P 500 touching down on the 200-day MA yesterday a bounce in the market could cause OSTK to rebound much more (in percentage terms.)
The Kijun is a measurement of mean price over time, the stock price of OSTK usually only strays this far from the mean at the bottom of capitulation. A rebound could mean a 33% to 50% bounce from the lows. It is currently just above the lows after many days new market lows.
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.