OSTK (Overstock.com) offers an objective short entry with a sole price target of 48.80 set just above the intersecting uptrend line & 48.20 price support levels. I just posted this in the trading room and will make it an official trade as well with a suggested stop on any move above 62.10 & a suggested beta-adjusted position size of 0.70.
OSTK 60-min Nov 22nd
The 60-minute chart above highlights the most recent divergent high & bearish rising wedge pattern along with the two previous divergent highs which were followed by corrections of 17% & 18%. My expectation is for a drop of 22% (from the recent highs) this time around.