Wed 13'th Dec 2017
Overstock.com Stock Analysis
Technical stock analysis for Wed 13'th Dec 2017
|Shorts||1.68% ( 2017-11-15 )|
Overstock.com lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 97.99% during the next 3 months and, with 90% probability hold a price between $89.99 and $141.01 at the end of this period.
Only positive signals in the chart today. Overstock.com holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $49.80 and $49.66. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday December 06, 2017, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.
Relative Strength Index (RSI)
RSI14 is 50 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $53.15 and $52.40. On the upside the stock meets some resistance just above today's level from accumulated volume at $61.05 and $63.95.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Overstock.com finds support just below today's level at $53.15. If this is broken, then the next support from accumulated volume will be at $52.40 and $47.10. The stock is about to test the resistance from accumulated volume at $61.05 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $10.05 between high and low, or 19.67%. For the last week, the stock has had a daily average volatility of 14.05%.
Our recommended stoploss: $57.89 (-4.94%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from pivot bottom found 5 days ago.)
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Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Buy Candidate.
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