OSTK breakout! Price targets and analysis
OSTK has broken out of a bearish trend that has lasted since the highs of late August .
I would expect price action to first target the support line at the .382 fib at 67.12
Looking at the gap we made in July of last year, i think we may go as high as 73.50 before too much real hesitation.
This play has already matured substantially, but with a previous summer 2020 high of 128.42 and the pivot point at the 618 fib, we may end up retesting that area.
This one may be played better in increments, using dollar cost averaging as a foundation in these lower areas, with an ultimate target in the 85-90 range.
We are up 19% on the day already, so it would be wise to look for an entry on the retrace.
59-60 would be an area id look to test again if we do fall back a bit.
I would expect price action to first target the support line at the .382 fib at 67.12
Looking at the gap we made in July of last year, i think we may go as high as 73.50 before too much real hesitation.
This play has already matured substantially, but with a previous summer 2020 high of 128.42 and the pivot point at the 618 fib, we may end up retesting that area.
This one may be played better in increments, using dollar cost averaging as a foundation in these lower areas, with an ultimate target in the 85-90 range.
We are up 19% on the day already, so it would be wise to look for an entry on the retrace.
59-60 would be an area id look to test again if we do fall back a bit.
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