Overstock.com, (OSTK), made a big leap higher in its stock price in May 2013, doubling, and has been in a band between 24 and 32 since then. The recent price action makes it look attractive for another move out of that morass as it creeps into earnings on January 30th. A look at the chart below shows that it has been consolidating in a Symmetrical triangle (blue) since the start of the year. A break of that triangle carries a Measured Move of $6. Should that happen to the upside then the larger symmetrical triangle (red) will also trigger and that one carries a target move of $24 or as high as 55.50. Far fetched? Perhaps, but this stock has 16% short interest which could fuel a squeeze and a catalyst to move it next week.
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