SUMMARY
The below weekly chart of Overstock (OSTK) is one I had provided to a client early in the year and most of it has it true except for a shift in time frame. I've always found time projection to be extremely difficult since it's not a reflection of sentiment, like price.
I've updated the weekly chart to reflect better the Cup formation which is massive in size and time. The near vertical ascent has to be corrected and this correction is likely generate the handle. Once the handle is complete; a bull run like never seen before should take place for OSTK.
A higher resolution daily chart shows that the red ABC corrective waves could be, if not already, complete! IF price can breach the blue top line of the handle formation, it could spark some BIG moves!
Here is an alternate count for an ABCDE scenario:
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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Elliott Wave Counting Tutorial #1
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