OSTK (Overstock.com) was added as both a long entry & a trade setup on April 28th with dual entry criteria: An aggressive long entry while the stock was trading at the bottom of the bullish falling wedge pattern at that time or an alternative, more conventional entry on a breakout above the pattern. The aggressive entry trade exceeded the suggested stop criteria but the alternative entry has now triggered with a breakout above the top of the pattern. As OSTK continued to move lower within the pattern, I have added a new price target (T1 at 17.72) and re-sequenced the former T1 at 18.30 to the second & final target. Also note that a substantial horizontal resistance level has formed not too far overhead around the 16.18ish area. My preference is to only take a partial position here while waiting for a break above the 16.20 level before adding to the position. Suggested stop for this trade would be on any move below the 14.49 level.

OSTK daily June 6th

OSTK daily June 6th